IEEEIO doesn't supercede HDF. It is designed to be a lightweight IO system which you would use when the broader functionality of HDF is not required.
Again, this file format is primarily designed to take advantage of the fact that most of the operations that XDR and HDF do to make the data platform neutral are not always necessary given current binary formats for floating point numbers. It also leads to a very simple-to-parse file structure which brings us to the next point...