As the jump from armored to spacer is quite great, making even a Legend armor leo inferior (sharp prot) there would be a in between and/or a after for more tiers. Also, as this is an on skin layer armor, it should be taken in consideration accordingly. Also mind that all the prices and armor values are with vanilla expanded other mods as reference and up discussion.
Remove leg coverage, it will allow people to wear pants but your flavor text says it doesn't protect it so just leave it to people to prohibit pants when playing.


The basic one is fine as it is on par with a shirt pants combo giving more protection but less area.


The armor leo on the other hand needs a price change as the flak vest cost 1 component 30 fabric and 60 steel. As this also need it own additional research and reduced protection area, having higher armor is fine but the cost would be something like 2 comp. 60 fabric 60 steel also allowing it to benefit from the fabric choice or just make it cloth with fixed stats, Author choice.
Being the first armor it should cover the neck also and go down to 90% sharp armor.

Now for adv. leo, this should be a in between from the actual, with something around 110% sharp, this would be the same as catapharct but for the chest only, costing down to 60 fabric, 2 adv comp, 2 comp, 80 plasteel, 5 uranium. Again fixed or material bonus, Authors choice.

For a tier up you could add advanced fabrication as a prerequisite and make a Spacer leotard.
Make it 138 sharp(masterwork to max out), up the blunt to 80 and price it the same as actual adv leo plus 60 fabric.


Here is the point i think it starts to blur the line from leotard to body suit, as i wonder if you would add a version that even a nudist would wear with the same stats but for the whole body, a variant with shield or a eltex variant but let's tackle one thing at a time.

TLDR:
Remove leg protection, add neck protection
Leotard - good as is
Armored leotard - slightly lower price, costs fabric and steel, less prot to 90% sharp armor
Adv. Leotard - Price way down more than half, no longer max protection from start, 110 sharp.
NEW Spacer leotard - Higher prot then catapharct with relative similar cost.

Want to see what others think and if the mod author is willing to make the changes.
Thanks