Both songs are excellent. This one has the pop sensibility that the Buzzcocks are just so amazing at, while Shot by Both Sides has the challenging post-punk edge...a bit more sinister with the chord progression in the verse. I think Magazine has the better song overall, but Lipstick is a bit more fun to listen to.
Love Buzzcocks , if your interested I have many videos I filmed of Buzzcocks performing Live back in 1994 on mylittletelly youtube channel. heres a link to a full concert in Portugal when they supported Nirvana.
I've always wondered why the similarity myself - i think i might just prefer the magazine version though - dunno - they're both great songs in their own right - also, i could swear the same riff is used AGAIN in one of the tracks in the oft channel-5-repeated film 'broken arrow'