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LM74680: LM74680 to replace Full Bridge Rectifier in low current dc power circuit with user selected polarity input

Part Number: LM74680

Tool/software:

I am looking to improve the input protection to a circuit we've made for a long time. 

Its currently using HD-04T Full Wave Rectifier feeding a hysteretic buck LED Driver at 24Vdc Nominal input voltage with 120mA max Load current.  This circuit is repeated multiple times with 1 leg of all rectifiers tied together acting as a digital common for control connections.  This way the user may wire digital common to 0V or +V depending on their control design.  Control may be from a PLC or Hardwired external controls in industrial environments.  Each signal has a bi-directional TVS and Ferrite Bead.  TI refers to this as a polarity agnostic dc circuit, just repeated for multiple inputs.

The LM74680 looks promising, but I am not clear what protections it adds.  From the 1st page of the data sheet: "It also offers fast response to reverse current conditions for protection against input short events."  I see some other relevant specs, but am not clear what level of improvement this might offer relative to protecting the load.  I am most interested to protect against short circuits that it might be exposed to from other loads in the users system.

Am I on the right track with this chip?  Is there something more appropriate from TI to consider?  Thanks you for your input.