Yeah, although I haven't seen one with two level sensors? We have no end of fun when we modify cars for wheelchair access, because we usually have to make our own fuel tank - typically wider but not as tall, so we can lower the floor for the wheelchair. That plays havoc with the original fuel sender, as you might imagine! The ones we work with, tend to have one conventional float sensor, with the float roughly in the middle of the tank, so that it doesn't change level too much when the car is parked on a slope.
When the ignition is switched on, it takes an instantaneous reading from the float and feeds that t the computer that calculates fuel level, remaining range, etc, and sends that signal to the fuel gauge. From then on, it ignores the reading from the float in the tank, and just counts injector pulses, then calculates what's been used, and tells the gauge to display that. It's surprisingly accurate too! However, it's not completely accurate, so each time the ignition is turned on again, it takes another spot reading (before the car has had a chance to move and slosh the fuel around in the tank) and then corrects the gauge reading (if necessary).
Unlike the "managed" temperature gauge, I can, at least see a few small advantages to having a "managed" fuel reading. For a start, you can have the tank any weird shape you like, but still have a pretty linear fuel gauge movement, just by tweaking the software. Secondly, you don't get that annoying 20 miles or so when the low fuel warning light can't make up its mind whether it's on or off! The light is told to come on when the calculated fuel level drops below the arbitrary limit set by the manufacturer, and stays on, until refilled, so it doesn't matter what you do with acceleration, braking or cornering, the light is either on or off.
