Having followed the discussion of version 1 VS version 2 for some time, I think I finally understand the disconnect between the developers and everyone (including myself) who is so upset with version 2. The reason being that version 2 is actually a DIFFERENT product from version 1, not an improvement or change. AxCrypt V2 is more like a product called Boxcryptor, which facilitates seamless zero-knowledge encryption in cloud services. AxCrypt V2 essentially provides this service on a local machine while also facilitating file sharing. For the purposes of securing all data on a local machine, yes AxCrypt V2 is a tremendous improvement.
However, this is a VERY different use case from what I think most people used version 1.7 for (individual file encryption, compartmentalization of secure files, adding a 2nd level of security). Given that this use case appeals more to individuals and not organizations, I can understand why AxCrypt wishes to focus on the new V2 model. (Although it is sad they will no longer update the previous V1 model, as there doesn’t seem to be anything else like it). However, AxCrypt should have really come out with a different product, and not just called this version 2.