I have gone through Dr Googgle and found only V1.4 cables. One site say the V2 cables are no longer made.Master keys turn off the security light when placed into ignition. Valet keys do not.
The cable firmware is annoying not labeled on most cables. You have to check its version when plugged in using a software package that can read it, or review the sales listing where you bought it.
V2 cables should do most everything. V1 will have trouble registering TPMS, running utilities like key programming and such. V1 will still allow some write signals like convenience settings, but they won't write the "important" stuff.