brake fluid

That's a good question. My guess was (and still is) that Valvoline's product was simply more resistant to absorbing moisture.

The Girling Castrol LMA (Low Moisture Absorbing) had been around awhile by the early 1990s. Biggest change I knew of was that it was harder to purchase in metal cans, although Pegasus Racing and probably others could still provide it that way. I came across the Valvoline product in Pensacola around then and based on boiling points it seemed to be a leap ahead.

DRY:527F -- WET:347F --- VALVOLINE SYNPOWER DOT3 & DOT4 (corner carvers)
DRY:509F -- WET:311F --- CASTROL LMA (2007 Castrol pdf)

My understanding is that the LMA had been developed for competiton where moisture absorbtion was an issue. Probably things like Eurpean rallys where dry boiling point could be traded for less absorbtion. Some race type fluids really were/ are very suseptible to moisture and lose any advantage they had initially.

Castrol has newer product out now that's supposed to be better than the old LMA. Below from Pegasus Racing's website:
Castrol Advanced Performance Specifications:
Dry Boiling Point: 509° F minimum
Wet Boiling Point: 329° F minimum

Mentioned by Golduster318:
DRY:536F -- WET:392F --- ATE SUPERBLUE/TYP200
(also from the old corner carvers thread)
This is getting into a more serious racing fluid.