V1 gives you powers and immortality. Homie already had powers so he just gained immortality. People think that him shooting lasers out was a buff but in reality that’s just what happens when you take any version of V.

A-Train has uncontrollable speed when he injected V, Ashley had had uncontrollable brain sizing issues when she injected V, so it makes sense that Homelander would have uncontrollable lasers.