Hero rocket launchers fire really powerful rockets but they travel very slow and fly in an arched trajectory. This is because of the Torgue barrel that gives this characteristics to any rocket launcher that uses it. However, being a Vladof launcher, it can fire such projectiles faster than other launchers and has an extra shot every three rounds which optimizes ammo. This is handy for second winds.
Krieg can make very good use of this launcher since he's a melee character, he will often come in close range with the enemies, which compensates for the slow-velocity rockets, and his Hellborn skill tree can greatly increase the damage with this weapon when it has an element to it.