Think of the behavior blocker as an extension of your antivirus/antimalware. A normal antimalware will detect a milicious file using a signature it got from the antimalware researchers. Behavior blockers dont use signatures, they detect malicious files using advanced patterns and investigating their behavior, hence the name. Therefor it will only flag and give a warning about an unknown but suspicious file when it's "behaving like malware". It's an advanced software behind the scenes which will be visible in exceptional cases.
Now think of HIPS as an extension of your firewall. You allow applications to access the internet or not. This is mostly by user interaction. Program x wants access to the internet, do you want this or not. This is how HIPS works but then instead for the internet, for your computer. Therefor you will get questions like, do you want program x to access file x or modify registry key x?
This makes that HIPS is far more in the foreground. Standard HIPS will report basicly everything an unknown application wants to do and therefore require a lot of user interaction.
Neither of the software is better than the other, the best way is if they're used together. But nowadays basicly every antimalware company has some kind of behavior analyser in their software. HIPS is more rare as it is more intrusive.
best regards,
eXp