I couldn't put my finger on why I didn't like sleeveless smocky 1.0, but Grace could... She nailed it for me when she said that the neckline looked heavy compared to the breeziness of the body. With 2.0, I think the bubble hem and extra shape the two layers of fabric gives balances out the heaviness of the neckline perfectly.
It still has a notch in the back, and if you squint you'll see that there is also a central seam running down the back. This is necessary for it to be reversible, which I found out at 1AM when I tried to turn it right sides out and it wouldn't. I was thinking about maybe making it separate with a slit up the back so it's extra cool for hot weather. Or is that just crazy talk?!
This is the other side with the matryoshka and polkadot fabrics reversed. I wasn't sure if such a small accent of the matryoshka fabric would work, but I think it does!