Lyoto landed some nasty shots on Hendo, he struck with the intent to finish. The intent to not get hit was just as important though, because Hendo can change momentum with short strikes and Lyoto is not a tank physically. Hendo is. All this combined makes for a three round fight.
Lyoto has been equally impressive in the Bader and Hendo bouts IMO, to me he looks reinvented and better than ever. This doesn't mean I feel the need to make a thread claiming he'll be Champion before the year is out though.