Currently, the bars are showing the change in page size. This is nice, but it's not the most important aspect about an edit to the page. If someone would replace every letter of the page with an x, it wouldn't change the page size.
Maybe you could make the bars represent the "total of characters changed"? So that adding or removing a letter equals 1, but replacing a letter with another equals 2 ticks in the bar height, because it is actually 2 changes (removing and then adding)?
The bars could then sit on a baseline, with only one direction to show the total changes.
Alternatively, the bars could show the characters added on the top of the baseline, and the characters removed could be on the bottom. This would be a lot of useful info in one view.