Maybe, maybe not. This 'version' is really nothing more than an update to PF rules. I made no real changes to it other than substituting out 'bow' for 'ranged weapon' in its stuff. If 145 hp is too high for it now, 135 hp was likely too high for it then, but I don't seem to remember anyone saying the arrow demon was 'over powered'.
18-19 Con is probably the ideal if you want to build it to Monster Creation Guidelines. Drops Fort save by 5 and reduces hp to 95.