AEM V2 is actually supposed to be good on safety features. I spoke to Aaron about it and he said it can stop ignition if fuel pressure drops or oil pressure too. Also, it has boost control and preventative features for that as well. It should be getting updates to do a flex fuel setup like ProEFI.
I asked Aaron if it could do the auto adjustment based on ethanol content and he said "no," but stated you shouldn't want a standalone to do anything on it's own which makes sense. I rather tune for E85 instead of tuning for both and have the EMS interpolate between maps. Then again, I haven't really seen a lot of E85 stations in NY.
Where are You getting your lines from?