As you say, maybe not!
You did verify there is no free play at the SMC, right? Indicating the SMC piston is moving all the way back. Good.
And you can push the pads back, right? Indicating the equalizing port is not clogged. Good.
The bit of pressure released through the bleeders could just be an indication there is still some air in the lines (acting like a small pressure accumulator, with just not enough pressure to push the fluid all the way back to the reservoir.
Rear most is from the SMC via the PCV, a bit more fluid out of this bleeder might mean a bit more air left in this (longer and convoluted) line, not surprising.
So you might be in for one (or more!) round of bleeding, which, as you noted, some said may help.
Note that if you are happy with how the front feels, there is no need to bleed it again if you are re-bleeding to try to chase air out of the rear (skip the first two steps of the overall bleed procedure).
@jfheath can do even better, he can tell by the feel of the brakes which specific line needs to be bled, without re-bleeding the whole rear system. You are progressing so fast on this system that maybe you'll soon get to his level and tell us how it's done.
You may want to ride it a bit more before chasing the air out of the rear system (meaning all lines linked to the rear reservoir}.