I should point out that I am far from a perfessional mechanic, just an enthusiastic amateur. Actually I do know lots about wood preservation, and get involved in fault finding and process improvement often!
The low level fuel thermistor is actually separate to the float gauge, and is attached to the fuel pump bracket in the lower tank. I've not seen the 1300 sensor but on my 1100 it was a small vertical cylinder about 1cm diameter, I believe it senses the cooling effect when immersed in fuel and triggers the flashing last bar when it is exposed, at which point you should have something like 5L remaining. The sensor is connected to the brown/black wire. Thinking about the separation between the first 7 segments and the last, that probably explains why the 2nd to last bar either lasts longer or much shorter that you may expect. My bike certainly sits on the 2nd bar for longer than I expect it to, based on the rate of the previous bars.
Each time the low sensor is triggered, the ECU calculates mileage remaining based on your average consumption over the last 20 minutes. I assume that the system resets whenever the ignition is cycled on/off, so the ECU is assuming you've just hit reserve when you re-start, even though you've used up part of the reserve already, and recalculates the remaining mileage assuming you have the full reserve. What you describe sounds like the system doing its normal thing. So a feature, not a bug.
Morale of the story: treat the remaining mileage when you first hit reserve as a good guide, but if you don't fill up before the next re-start, don't trust it.
The service manual does point out that: