Just finishing 2 night stay in Hilton Osaka. Renovated executive room on 34th floor. Executive Lounge is now on the 3rd floor.
It operates on the following schedule:
Breakfast: 6:45-10:30 am
Afternoon tea: 3:00-5:30 pm
Evening cocktails and canapes: 5:30-7:30 pm

As A Diamond, we had a breakfast at the restaurant on the first day. It was rather crowded so for the second day we switched to the lounge.
Selection is nearly the same except Chinese dishes and cooked to order eggs. But there are a few nice touches like fresh cherries and somewhat better selection of cheeses/cold cuts. For the evening they serve three types of hot items that were different on both evenings. Australian Chandon + wines/beer/sake/selected hard liquor. Overall, an excellent lounge especially for Japan. Could get busy in the evening.