Slide the difference is essentially that 107 is a bit more aggressive/punchy compared to 110 which feels smoother.
107 also seems to keep motors a bit hotter than 110.
For gearing you will drop at least 5-6 6teeth but it is still track dependent.
On my 17.5 i dropped from a 58mm roll out to a 48/47mm rollout and am faster than my previous lap times with the 312 firmware.
Would recommend the 110 Firmware, it just feels more consistant and smooth.