This was addressed in this thread.

I just got a V2 with a Moto lever. I'm adjusting it using the Bite Point Control dial and it really doesn't seem to do much more than the reach adjusting screw all brakes have. Can someone explain how this is different from the reach adjuster? It does the same thing, moving the lever in and out, as far as I can see. Perhaps it's only because I've had it one day, so I didn't notice yet, but perhaps it increases the volume of the master cylinder chamber?