Shane the two are quite different.
Multi-tip lines have the front section of the head as replaceable. This means you have a loop to loop connection in the belly section of the line and essentially you change the front of the belly and the forward taper, the rest of the line remains the same. This replaceable section is usually around 15 feet long and of course they come in a wide range of densities – think various density interchangeable sink tips.
A shooting head on the other hand is around (usually) 30 feet long and is attached to a thin shooting line usually also with a loop to loop connection. You change the entire head when want to change. Of course there’s no reason that you couldn’t have a shooting head that also has a ‘versi-tip’ set-up.
Shooting heads really are for distance casting, versi-tips are for versatility with what is essentially a standard length and tapered line. You would cast them quite differently.
Morsie