I haven't used the HomeSeer Dimmer, but I have used the Fan Controller, which is similar except I think with one or two fewer LEDs. I've also used the HomeSeer switch that is similar except with only one (tiny) changeable LED instead, so...I guess not that similar, but the only product like it on the market when I bough it. Your opinion may be different from mine, but personally I like the Inovelli Dimmer (LZW31-SN or even LZW31) better than the HomeSeer products I've seen. Why? Because while multiple addressable LEDs sounds nice, HomeSeer's are so tiny that I can barely see them from a distance, much less distinguish their position or color. Inovelli's LED bar is larger and easier to see on either the switches or dimmers but especially the dimmers. This makes them far more useful to me. Again, your preferences (or possible lack of colorblind-ness--larger surface area helps me see distinguish better) may differ, but that's my opinion.
Another plus: Inovelli also "gets it" in ways I don't think HomeSeer does if you have any interest in using their products for smart bulb control (HomeSeer doesn't understand why you'd want to disable local control, for example) or having the manufacturer be active in your hub's community forums (Inovelli has a notable presence here plus a forum of their own where they also frequently participate--and more to the point, have made changes based on user feedback). Not saying HomeSeer is bad, just that I think they haven't really kept up with the times in terms of features vs. price and whatnot.
But yes, it is true that you can only have one "notification" active on the Inovelli devices at one time. I've seen users (and possibly staff) suggest things in the forum about whether it might be possible to rotate between multiple ones (or split the bar physically or at least in terms of addressing LEDs--of note, their Fan/Light device does have two, though it makes sense for that device), but I don't think anything has been decided about if or how that might be implemented. But in the meantime, you don't really need to have that handled at the device level; on Hubitat, an app or rule could periodically rotate through different settings (say, depending on device state) on demand. I don't know of any apps that do this (that gives me an idea now for what to do if I get bored!) and don't think I've seen anyone write a rule that does, but it's theoretically possible.
I have limited experience with HomeSeer devices and the current-generation Inovelli devices are (at most) barely a year old, so it's hard to comment on long-term reliability, but I've had very few problems with either so far. (If those weasel words sound concerning: Inovelli firmware updates have, I think, fixed everything for me, and in their defense, it was a new-to-them manufacturer and a brand-new device, not a re-firmwared whitelabel device like some manufacturers sell. My HomeSeer switch also developed a "stuck" paddle that they replaced under warranty. HomeSeer has been around longer, and their devices look a lot like the whitelabel devices that I assume GE/Jasco [well known and generally good reputation], Inovelli, and Zooz may have all used at one point, except HomeSeer must have customized the hardware a bit to add the LEDs...or I could be way off, just guessing based on the look of the back/"body").