When I hit Revert to this release, it works occasionally but usually does nothing. Anyone else experiencing this? (fyi Publish Release seems reliable)
After you close out of that, are you seeing your current working app revert to the version you selected? Nothing really changes on that prompt itself when you do that (e.g. which one is live).
if I attempt to revert from v2 to v1 and close out, v2 is still live
Yup, clicking Revert to this version will update the app you're currently editing to that version, it won't change which version is live for users. Publish release will do that.