I have to say, I love what they've done with Urgot's lore.
They not only kept the former Noxian headsman aspect of his character but also used his background to explain the explosion in Zaun that's been mention several times now, while also introducing several new Chem Barons (Voss and Crimson).
Riot also didn't have him as another experiment of Singed's which would have been cool but has already been covered by Warwick. Instead he got all his weapons and machinery from a mine; which is perfectly reflected in his art and gameplay. The drill and meat grinder are actually meant to drill and grind rocks, his shotgun knees are probably using fuel for mining equipment, the corrosive charge could be used for blowing holes in rock, and the machine gun seems to fire railroad spikes that could have been used on the tracks of mine carts.
Urgot also raises some possible intersting scenarios for when Noxus finally invades Piltover; as I see Urgot as the type to cause havoc for both sides.