Forgive me if I'm incorrect as I'm still somewhat new to all this. However, ill share my thoughts while we wait for PandaRep to respond.
I made the assumption that "testosterone suspension/base"is raw, ester-less testosterone, and "testosterone base micronized" is the same raw, but it's gone through a micronization process (basically milling/grinding) to make the crystals smaller for easier brewing and/or incorporation into a transdermal carrier.
At least that's what I hope it is, since that's what I ordered.