I didn't care for this particular character change or the... (SPOILERS)
The film made clear that besides what is written on the cards, every other personality trait, affliction, sexual preference, etc. would remain the same. In the third iteration, James is relegated to the profession of 'florist', instead of the aforementioned "organic farmer" as the sum of the first card classified James as a "gay organic farmer". All that was changed in the third iteration was his profession. Some might say that it is implied that because his profession has changed, the first card is thrown out all together. However, the "rules" of the film being as they were, I think it a better implication that James is now a gay florist.
The third iteration didn't really sit well as it was, as the purpose of the exercise was to survive and procreate. All the hippy crap was played as some great revelation, but in the end, everyone still ends up dead. The explanation by Petra was equally as asinine. If there were ten people and ten spots to begin with, fine. The fact that she made a choice to leave the best candidates to die outside the bunker, thinking that she and the bunker kids would die themselves down the line was ridiculously selfish. Why not send the others into the bunker, and stay outside with your wine and card tricks and opera singers? You're dooming the best chance for humankind so you can smoke weed, put on plays, and dance for 12 extra months? The professor was right to keep dropping her grade.