This issue of the Gain II setting has also effected my new unit , works fine on the other settings - (even managed to record a Bass Gtr on setting Zero) , however put it on setting II to record quiet ambient stuff and nope - no sound , I’m going to swap it out , good job I bought it at a friendly local store 
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Swapped out unit at local store today. Have to say that gain 2 setting is going to be awesome for ‘field recording’ …. 
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I got an open box CM15 that had this issue with gain stage II (it didn’t reset either) that’s going back to the shop this week. I’m contemplating getting another (new one) but slightly concerned that this is a design error.
Has anyone had this fault develop over time? Or more examples of the CM15 breaking?