Hard for me to answer, because the only Ukrainian translation of the *FULL* text of the Bible (its Protestant version) that I've ever read is the Ohienko's translation. I read a couple of New Testament translations and Psalms done by others (notably Hryhoriy and Dianne Derkach), but it did not particularly impress me as something better than Ohienko's translation.
Overall, I think, Ohienko's text is very emotional - I never saw, for example, so many exclamation signs in the English or Russian versions of the Bible that I read. But that's a minor thing; I believe it's a very good solid Ukrainian translation, quite "palatable" for a modern Ukrainian speaker like myself. Of course, not being a scholar in Hebrew or Greek, I cannot judge about the precision of the interpretor's job.