According to both LG and Motorolas Twitter support accounts, the Android Wear 2.0 update is not going to arrive on either the original LG G Watch or the flat-tired Moto 360. These two interactions on Twitter happened on two separate occasions a couple of weeks or so apart.
This news doesnt surprise us as it has almost been two years since the LG G Watch was released on June 25 2014 and the Moto 360 later that year. We don't have high hopes for the Samsung Gear Live to be updated either as it wasn't particularly the most popular Android Wear device.
The new Android Wear 2.0 update takes advantage of new features like GPS, Wi-Fi, internal speaker, and LTE, most of which are not available in the original wave of Android Wear watches since they werent built with them.
Its unfortunate that these watches wont be updated, but thats the way the cookie crumbles. For the record, the TI-OMAP CPU in the Moto 360 was already obsolete when it was put in the Moto 360. Motorola needed to get rid of get surplus Galaxy Nexus CPUs somehow.