Not really... The mechanism for how it moves between take-off and forward flight was completely redesigned between MV-22 and MV-75. The new mechanism first flew and was tested extensively on the V-280 Valor under the Future Long-Range Assault Aircraft (FLRAA) program. The outcome of that program led to Bell being chosen over Sikorsky for the FLRAA contract and the development of the MV-75.
The X-76 is looking to be a furthering of the V-280/MV-75 design philosophy for transitioning from hover to forward flight with the added wrinkle that the transition now goes from propeller hover the jet powered forward flight.
Depends on how you define "redesign". The difference is instead of tilting the whole engine in MV-22, it is only the drive shaft being tilted in MV-75. The impact is no hot gas blowing to the ground making it is safer for people to be near the aircraft, also less turbulance under the rotors.
However, the flight characteristic of transition and hovering is not changed. It is this characteristic causing most of the crashes. The bottom line is that tiltrotor craft has two lift centers while the load is in a perpendicular line, once an engine got into trouble, the lift is imbalanced at low altitude, there is no room for rebalancing the lift before the aircraft tilt to one side and crash. A helicoptor loosing an engine will still has the balance even though the lift drops, it will suffer a harder landing but less likely to loose balance.
Tiltrotor's problem is inheretive and can never be reduced to anywhere close to helicoptor. It has some favorable features but don't expect it to exceed the popularity of conventional helicoptor. I think this is the attitude of many people.
What is the reason? Sure, the Osprey's record isn't great, but it clearly is useful enough that the US is pursuing further development of the tiltrotor concept in the form of MV-75 and replacing carrier borne logistics with more MV-22s while China is also trying to build a similar concept. This seems to be a generation beyond the current tiltrotors under development and could mean quite a lot for battlefield mobility and logistics.
It's interesting how people here dismiss US developments with little thought.
The difference is that China's work is more of "技术跟踪" (closely keep up tech knowhow) rather than committing to broad application. 镧影 R6000 is unmanned. AVIC's work has taken a long time but no production model. Not that they can't do it, but there is no commitment from customers (PLA).
X-76 differentiates MV-22 and MV-75 by folding blades. It looks similar to swing-wing design among jet fighters in the 1960s and 1970s. I don't see them separating themselves from other fighters as a different generation, but that is only personal opinion.