I would guess as well that the Schon #2 indicates that the cue is a second somehow, depends on how old it is because I know for a while they stopped even selling seconds because of the trouble it caused with some customers, usually in the secondary market. Although back when I was more familiar with the cues, Bob Runde was still there and the cues were marked as seconds by not including the umlaut over the o in Schon, a very subtle (apparently too subtle) change in marking.
I would not worry about the quality of the cue even if it is a second. The shafts are marked as seconds for very small deviations that do not affect the play - slightly darker grain, a small knot hole that is near the joint of the shaft and thus out of normal sight, etc. The butts are similar, could be a slight blemish in the wood, some small missing or non-matching decoration on one side of the cue, etc. It would not be sold if it was still not a high quality cue. I used to see seconds all the time, they were sold through the room I played in (owner was partners with Bob), sometimes we'd make a game of trying to see who could spot the flaw, sometimes it was pretty hard. Cues were 50% off then, and were getting snapped up by players, but like I said I think there were some problems with people reselling them as normal cues, and the recipient calling the factory complaining, and Bob having to handle it customer service wise, etc, so the practice was stopped at least back then. Evan may be doing something completely different.
I also do not know what the BETO or BOTO stands for, would guess someone's nickname or something along those lines that they asked to be inscribed.
Have any pics?