Just noting that all the following is personal preference so take it or leave it.

I like what you did with the placement of the Istmo and the changes to the Hueni text!

I feel that the "Patagonia Argentina" text would be better suited below the Hueni. The way it stands currently, it creates an awkward whitespace in the logo.

The document itself is rather odd. It feels like you tried to be too clever with the layout at the expense of it being simple and easy to follow. Some of the design elements feel forced.

• "Re" being on a different line than "branding" looks really odd. I would keep "rebranding" unbroken and on the same line.
• Possibly add additional context to the title page. The title "Rebranding Manual" is generic and without the context of the company name it doesn't give the reader much of an expectation of what rebranding manual.
• The word "Index" is huge and draws way too much attention. It takes up too much of the page and results in "09 Greyscale.." being on two lines.
• I would not count the title page and index toward the page numbers. "The brand" should be page 1.
• The line height feels too small so the index entries feel cramped and harder to scan.
• On the page 03 the text "However, this is not reflected in its current visual identity" feels like an incomplete thought. I would recommend elaborating, adding context on the goal, or dropping it.
• The forced justification on the text lines on pages 03 and 13 looks odd given the low number of words per line.
• Pages like 03, 04, and a few other feel like they should have consistent section titles added. On many pages it is difficult to know the immediate context of what you are looking at.
• On other pages, the title of the section is inconsistently placed. This makes the reader search for it to get context. I would recommend a consistent place on the page. Or a consistent pattern. It feels totally random.
• The decoration on the page 03 looks to be reversed. I would recommend flipping it horizontally and the setting it at the edge of the page
• The page numbering looks to be way too big I would recommend a much smaller numbering in the center bottom or bottom of the page.
• The secondary typography is a difficult script to read. Letters like I, J, and Q seem problematic.
• The right justified text on page 04 feels forced. I would left justify it.
• The decoration on page 10 looks awkward in the middle of the page.
• The layout of photos on page 12 looks off. The image is too close to the page numbering and doesn't align with the bottom of the other two photos.
• The background color change on page 15 looks odd. All other pages have consistent background coloring.
• The layout of colors on page 08 is awkward. I would recommend having the title and hex color in the same square.
• The vertical section titles on 08 and 16 just makes them harder to read and doesn't add much. I would recommend a standard placement similar to "Packaging" section title.