I compared the Raw/Ti with the Mercury/Ti Hatchet some time ago at Oakley HQ in Tokyo and I couldn't see enough of a difference to warrant purchasing the Raw/Ti Japan Exclusive. It was more natural or "raw" if you will, but I feel the Mercury looks better.

The frame isn't unlike that of the Metal Vaults, X Metal Coins or the display items; scuffs and marks aplenty, as if hewn from a block of metal. The only difference is that it is a tad lighter in colour. It's a very cool look, but I kind of wish it had the same sheen as the aforementioned items.

Gen 1 was cool but TOO shiny, Gen 2 is cool but too much like Mercury.

I'm not convinced - to be honest I wouldn't really fancy my Os with a raw metal finish, I'd prefer them to be smooth and nicely finished, especially on a style such as the Hatchet. Perhaps on a different frame, this finish would work better.

Dunno, in my HO this is rather a boring silver colour. it does have that raw unfinished look but just not a huge difference to the silver frame that they do for wires.
if you want hatchets go for one of the other frame colours they look much better in real life.