Colloquially, "2.0" describes an upgrade. That is, an object or product has improved from its initial (released) state to one (major) higher level - the second version of the object/product.
Where does this wording come from? The numerical classification/identification used to specify software and downloads. Take Java for example. The current, most updated form of Java is Java 7.4, or Java version 7 update 4. That means that this is the 7th time the Java program has been released to the public as its own full package (the 7th major update), and the 4th minor update that this 7th version has had. In some cases, there's another decimal that's added, like in Gimp, which has had updates like 2.7.4. Basically, the more decimals you put (though I haven't seen any with four), the more specific and minor the updates are. It means the manufacturers didn't think the update was important and worthy of moving up from 2.7 to 2.8.
I can't tell you how great the change from 1.0 to 2.0 as opposed to 1.5 to 1.6 or 1.2.4 to 1.2.5 is because that just depends on and varies by company.
*rereads post* Ahh, I put too much info....
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