Forewarning: What I say below is based on how Toyota flex fuel vehicles (especially the Tundra) work so dont take it as fact towards your chebby.
Now, from what I've seen, with the flex fuel vehicles that come through the shop, the computer, even with all the sensors in the world, still has to recognize a certain fill up/start/drive procedure to recognize the amount of ethanol.
Example. We had a truck come in with this problem.
2010 Tundra with a flex fuel 5.7L v8:
- Guy had filled up with 93 octane pump its whole life (roughly 35k miles). He one day decided to fill up with E85 simply because its cheaper. He filled up, started the truck and drove off like a batt out of hell like he normally does. Truck ends up in the shop not being able to Idle or go about 45 mph. Shop foreman/Toyota Master Tech tries to diag truck to no avail. Calls corporate tech and they explain that the vehicle has to be started and driven to a certain (in a relaxed way, but still have to follow some basic steps) procedure to allow the vehicle to adjust for the E85.
Long story short, the tech had to completely reset the computer in the truck to reset the fuel mapping and then tell the customer first hand to follow p.112 in his owner manual refering how to properly fill the truck up and drive the truck in the process of switching between the fuel types.
Again, I'm not commenting on your car specifically, but I imagine the chevy's arent too far off in terms of how a factory flex fuel sensor/programming works.