hificat101,
I'm with you, brother (or sister---whatever),
Your reasoning about the failure of Andrew's V1.5 unit is logical. An auto-firing that wouldn't stop and heated the coil of the carto sufficiently to backfeed smoke into the tube is certainly a possibility. Problem is, we weren't there, didn't see what really happened, and cannot be sure of much of anything except that the device failed on its own (not through user error), and in such a way that Andrew immediately stopped selling the V1.5.
As for an exchange, if the chrome unit offered is the Lambo V2 (with the spring-loaded positive pole inside an eGo-style 510 connector), then it will probably have the original V1 electronics, with no resistance checking and a 2.5 amp limit.
Like you, I don't want that. Not even a little bit. I'll either keep my V1.5 or send it back for a refund. I love the resistance checking feature and its easy, ergonomic implementation---a single button click gets us 1. atty/carto resistance, 2. current set voltage, and 3. battery remaining graph. That's one reason I don't own a ProVari---I don't like having to send morse code---meaning multiple clicks and pauses---to maneuver through a multi-step menu. That kind of software engineering may be chip-designer friendly, but it's end user unfriendly, and I dislike it intensely. In many other ways, the ProVari is great---like build quality and no voltage drop at all---but not in that way.
If Errol is correct in his test results (and we can't be sure that he is) about the LT V1.5 and V1.5t having an actual limit of 2.88 amps achieved by over-clocking the original chip, well, that's good enough for me in real world use. 2.5 amps isn't, however. Provape found that out real quick. Many ProVari V1 owners didn't like getting error codes, the same as Lavatube V1 owners didn't like mystery voltage drops.
If the chrome V2 that Andrew's getting as a replacement has a 3.0A limit, I'd consider it, but only if it also has resistance checking. Otherwise, no deal.