I've completed the 2.0 version of AirBoard. Key features include a new UI, more logic for the second screen display, and support for creating brackets. It's available in the AppStore right now: FULL or FREE.
The bracket creator works by setting up matches, and only advancing the tournament once all the matches have been completed. As you go through each match, completing it, the second screen scrolls to the next unplayed match. Eliminated contestants are stored at the bottom of the tableview.
Here's some screenshots of the app in action: