It doesn't necessarily have to be a lens item, possibly call it the reality bender which is separate from the lens, therefore it doesn't overwrite the lens, nor should it work in the same way. It should be a toggle that shows the whole screen. It should also only use magic when you toggle. Maybe even a way to change that.
Why not have the L2 lens just have a wider view. (possibly the whole screen) Maybe even have both have an adjustable radius, much like with the hookshot/ longshot.