Both are excellent tweeters, but the 2904-7000 is an older tweeter that came out about 14 years ago. It's the flagship ring radiator in the revelator series. The Illuminator series, is their latest and greatest line of products. The tweeter used in this monitor uses the successor to the 2904-7000. Cost wise the revelator version is still more expensive. But this is simply because the manufacturing cost is higher due to them not having discovered more efficient ways to build tweeters yet at the time of the 2904-7000's release back in 2002. Well that is what I was told by the Scan-Speak engineers anyways.
As you can clearly see when comparing specs, most of the nasty spike the 2904-7000 has at the end of it's range was eliminated by using the superior air circ motor system.
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Compare the scales in both dB and Fr Blizzard they are not the same. The 3904's spike is before 20kHz that of the 2904 30 to 50kHz. With the graphs shown we can only guess what the 3904 would do at the 2904 level but the power handling specs suggest that it won't be the same as at 90/91dB. As for it still being more expensive well, that doesn't make sense the tooling and R&D should have been paid off long ago. If it is more expensive the more likely answer is because they can charge that much without anyone complaining.