After wearing this piece for a while, I can honestly say that it is one of my favorites and (funnily enough) the "fast second" hand is becoming a major attraction. While I am still bugged that the hand essentially shows nothing (it's a 30s movement on a 60 s graduated dial), the speed of the movement is a conversation starter everywhere I go, and actually keeps me entertained when I look at it. While I was (and remain) fully prepared to explain to people that this is a rep and that the second hand is moving at 2x the speed it should, noone has asked me about that yet! All I got so far was a lot of compliments.
Having said all that, I doubt that a v2 is in the making - the sales of this current model are probably not going to help. Plus, I could see the v2 costing up to $ 700 (if done right) and I can't see too many takers at that price. But you never know.