There has been much written about changing the errata on Mox Diamond and Time Vault
here. On Mox Diamond, the original function was as a comes-into-play ability ("when Mox Diamond comes into play, sacrifice it unless you discard a land card", effectively), but today, it's a replacement effect ("If Mox Diamond would come into play, you may discard a land card instead. If you do, put Mox Diamond into play. If you don't, put it into its owner's graveyard."), which doesn't approach the original effect. The problem comes from 6th Edition rules, because under the old ruleset, you couldn't tap the Mox for mana in response to its comes-into-play cost, but with 6th-ed rules, you can. Hence, the debate over the wording.
Time Vault was neutered by WotC to prevent "Twiddling", as it were. It's the difference between
Time Vault comes into play tapped.
Skip your next turn: Untap Time Vault
Tap: Take an extra turn after this one
(original wording)
and
Time Vault comes into play tapped.
If Time Vault would become untapped, instead choose one - untap Time Vault and you skip your next turn; or Time Vault remains tapped.
Tap: Take an extra turn after this one.
(current errata)
The reason why Vintage (and perhaps Legacy) players care is because the former wording enables the Time Vault-Flame Fusillade combo.