I've read all that already.Engine overview: here
Rendering technolog yof Lords of FAllen
Volumetric lighting of LOTF
The consoles use a simplified GPU physics scheme (not the Apex turbulence fields, the volumetric fog, etc.) on top of lower res volumetric effects.
Also, the Nvidia Gameworks vid.
I was aware of some of those differences but the particles actually look quite a bit nicer on console despite using a simplified turbulence field. There are situations in which the PC version looks as if it's straight up missing effects in comparison leading me to believe that the PC specific particle changes weren't implemented as well even if they are more complex.