They are based on two different failure modes. The global criteria are based on paragraph 5.2.4. The local criteria are based on 5.3.3.
You should also note that there is an error in those tables, and these errors will be corrected in the 2009 Addenda. The combinations should be:
2.4(P+Ps+D)
2.1(P+Ps+D+T)+2.7L+0.86Ss
2.1(P+Ps+D)+2.7Ss+(1.7L or 1.4W)
2.1(P+Ps+D)+2.7W+1.7L+0.86Ss
2.1(P+Ps+D)+1.7E+1.7L+0.34Ss
Your question about the factor for hydrostatic test conditions requires a thorough understanding of Part 8. Have you read through Part 8?