Looking at the price I guess that the aluminum arm is better.
I had an Ikelite (dslr) aluminum arm that could barely hold a small strobe in full extension. I know that more expensive arms have a rubber seal, 2'' inch ball etc.
Can a Flex arm hold a normal strobe without too much difficulty or it's comparable to Ikelite arm strength?
I've not bought the indicated product, but have played with the Loc-line type stuff in hardware stores and on manufacturing floors. My guess is it won't hold up a larger strobe's weight IN AIR, but would do fine underwater.
That said, its kind of hard to add any sort of buoyancy to, and makes pretty loud creaking and squeaking noises as you manipulate it. I don't really personally see the big advantage in strobe positioning vs. a couple reasonable-length arms with elbows.
The tradeoff to me in those offerings seems to be the perceived positioning flexibility, not greater strength.