Also:
Custom tone.com access is gone. So if you like downloading other user-contributed tones, try to do it before "upgrading". But beware:
In my case, I tried or tested the upgrade in two different ways: "upgrading" without user tones, only with the factory ones (clean upgrade), which went OK. BUT upgrading with my favorite downloaded user tones resulted in crashing while opening the app. It would begin the updating/migrating tones process and crash. Every time. Had to delete everything and begin again. And by this I mean, deleting everything "Mobile Pod" from my devices and computer, getting an old copy of version 1.7, downgrade, download EVERY tone again, and try to upgrade to v 2 again, to no avail. And, since you cannot add custom tones after the fact, there is no way to troubleshoot by adding a few tones at a time...
So, if you do not want to lose your custom tones, do not try to upgrade for now, or at least, backup them to your computer with something like PhoneView or other utility before trying. And keep a copy of version 1.7 handy.
And, if I remember correctly, there is a "Share" button! So Line 6 wants me to share my tones, but there is no way to benefit from the sharing??? I contacted Line 6 about the loss of customtone.com (hoping that it was an omission, that it would come back) but received an answer that confirmed worst case scenario. It's gone, at least for now. Hopefully they change their minds. Most other amp sim apps have some kind of sharing enabled.
On the interface issue, I really like the way things are distributed now and how I can access tones in a kind-of split window. I would compromise: keep things distributed on screen as they are, bring back the "real-ish" looking amps and effects.
I concur with OP about having the possibility of switching effects by tapping.