Differences in the Microfilm First Reference 3rd vs 4th edition

Hello, NorwegianSardines.

Just to clarify, the third edition does not have templates. Templates are introduced in the fourth edition. All editions have 1000+ examples. The items you question from both the third edition and the fourth edition are simply examples. (Every example in the fourth edition also refers specifically to one of the new fourteen "universal templates" that can be used to cite virtually everything used by genealogists and historians.)

Below, I'll post the relevant examples from each edition and discuss each.

Third edition:

The Draper Manuscript citation to which you point (p. 129) is one of two examples showing how microfilm might be cited:

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The first example in this set demonstrates citing a specific document from a microfilm collection for situations in which we want to emphasize the document.  This is common, say, when we have numerous citations to that one document, but not to the collection as a whole.

The second example demonstrates citing to the microfilm collection, for situations in which we want to emphasize the collection. We typically use this approach when, say, we have ten or a hundred citations to different documents in that collection and we wish to create just one master source entry for the collection itself. 

For more on the choices we make between citing to a specific record vs. citing the collection, see EE3 §3.8–3.9  or EE4 §4.8–4.9

Fourth Edition:

The first discussion of the Draper Collection (p. 138) demonstrates citing to the specific document in the original manuscript collection. This is the same original document used in the third edition. It also demonstrates emphasizing the specific document.

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The second discussion of the Draper Collection (p. 142 ) in the Fourth Edition points to the filmed version:

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Here,

• Example 1 uses the Draper Manuscripts to demonstrate emphasis on the filmed collection, not the document.
• Example 2 repeats example 2 from the third edition.

The two differences being illustrated for microfilm collections here in the Fourth Edition are these:

• Draper: a simple microfilm collection that focuses upon one set of manuscripts.
• Southern: a complex filmed collection, assembled from many different microfilmed collections., when we have different "parts" and need to name an editor. 

The Fourth Edition uses the Draper Collection to demonstrate different points and different needs. There is no conflict. 

The most important point of all is this: Decisions about how to cite a source we are using are not based upon the identity of the collection. Our decisions are based on (a) what type of source we are using; (b) what media we are using to access that record; and (c) what we want our citation to emphasize.

You also asked:

I am a student ... how do I find revisions that correct problems? I don't want to purchase another book!

Given the misunderstanding (the perception of a problem where no problem exists),  I'm not certain how to answer this question other than to point to the standard advice we all learn as students or as new researchers: When multiple editions exist, it is usually wise to use the latest edition. 

Exceptions to that rule do exist. For example, Black's Law Dictionary is now in its 12th edition. However, researchers who work with historical documents typically prefer the 4th edition because many older historical terms were dropped after that point. 

In the case of EE, the latest edition will be more germane to the latest media formats and archival arrangements. Earlier editions are still valuable for older media or a wider variety of examples.