Sadly you can only do that for landscape (where the iPhone 6 plus has a different trait collection than the rest of the iPhone family).
The way it is worded in IB is kind of misleading. You are right in expecting the wCompacthRegular to overwrite the rule for wCompacthAny. The problem is that the iPhone 6 plus falls under the wCompacthRegular category too.
Printing a view's trait collection when running on an iPhone 6 plus proves this:
<UITraitCollection: 0x7f968ada42c0; _UITraitNameUserInterfaceIdiom = Phone, _UITraitNameDisplayScale = 3.000000, _UITraitNameHorizontalSizeClass = Compact, _UITraitNameVerticalSizeClass = Regular, _UITraitNameTouchLevel = 0, _UITraitNameInteractionModel = 1>
These two in particular:
_UITraitNameHorizontalSizeClass = Compact, _UITraitNameVerticalSizeClass = Regular
You can change/override the traits at runtime (i.e. tell a view "no matter what you think, I say you have a Compact height etc") but for your case I would just switch on the screen's height and hide views manually based on that information.