The MM in the Gen 2 Volt isn't as good as the Gen 1 Volt. In the Gen 2, MM maintains the battery at 14% charge (as displayed by the MyChevrolet and RemoteLink apps). This works out to about a 2 kWh reserve. While two green bars show, after turning the car back to Normal Mode the second bar almost immediately disappears, and you get maybe 7-8 miles of electric range.
From what I have read here, the Gen 1 MM reserve is more like 40%, or about 4 kWh. (Is 40% what MyChevrolet/RemoteLink apps show? Or just a guess because 4 bars of 10 are displayed? Be nice if a Gen 1 owner could confirm.)
For its intended purpose, climbing mountains, the revised Gen 2 setting may be fine though. This because the Gen 2 has a more powerful ICE than Gen 1 had, and perhaps because of the improvements in the transaxle design allow better efficiency as well.