What a fun game! Here's my guess...
This is the prototype for the commuter/city bike Grant mentioned a while 
ago.
But, I think, Riv wants to have a sample size greater than 1 to assess the 
various ideas on the bike, so the idea of a "limited edition" of higher-end 
prototypes is a pretty good one. I'm also guessing that this is a test of 
concepts, not fabrication efficiency or build quality, like you would ask 
for from a factory. By hand-building all the frames locally, Grant can 
observe, fiddle, and tweak as necessary. Oh, and the R&D gets paid for by 
the customers, which is probably a big deal if things are as lean as they 
sound at Riv HQ.
I agree with others that the front derailer issue probably stems from the 
inclusion of the bottom bracket hand grip that we saw mocked up in bar tape 
a couple of months ago. Doesn't mean there couldn't be a work-around, but 
declaring "no FD" heads off any potential whining...
As for the "mystery option" - brake type is a pretty good guess - Riv is 
probably interested to see how many takers there are for canti or sidepull. 
I'd LOVE to see them offer center-pull braze-ons, but I doubt it. The other 
option could be dropouts - horizontal or vertical.
No clue what the "HS" stands for!

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