I got mine in February and have been having nagging issues with it ever since.
1) I’m from the U.S.
2) I only use the 2x-M with a NTSC PS2 mainly running 480i games and 2 games with a 480p mode using HD Retrovison component cables and through a mClassic.
3) I’ve been having the same issues with 480p content not displaying a signal at all when hooked straight into my Vizio M-Series. However, when I run the 480p signal through the mClassic I do get a signal but the bottom have of the picture is distorted. The light now turns blue instead of purple when detecting 480p too. Btw, I’m using v1.8 as that was the newest firmware when I got the 2x-M (and still is as of now).
I’ve also been having the issue with the image going in and out until it stops send a signal all together sometimes. Usually this can be fixed with restarting the unit from one up to several times. I’ve gotten to where now when I get it to work properly with 480i (I.e. not losing the image) that I just leave the unit powered on. I thought about sending an email to Mike detailing these things him but I figured with all the stuff going on with the 5x release right now that my email would be lost in the shuffle.