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What's the difference between these two cryptocurrencies? Is conversion ratio one to one. What are applications of each one?

The primary difference is that SJCX is on the Counterparty which is on the Bitcoin block chain. Bitcoin transaction volume is high, so Counterparty transactions are slow.

STORJ will be on the Ethereum block chain, which will make transactions faster, and offer the ability to use smart contracts.

so other things are same? do they have the same function?
Why would someone prefer SJCX is its on slower blockchain?

All SJCX tokens will be migrated 1:1 to the new ETH blockchain.

Will exchanges make the switch ?!

They will when they are ready to list STORJ, not sure if they will just migrate SJCX to STORJ on their platform directly so best to wait for Exchanges to announce it.