I used iStumber and WiFi Explorer to verify that the "extending" Express was providing two separate bands, one at 2.4 GHz and another at 5 GHz. Each band has a different MAC address.
But, I cannot "tell" my Mac to connect to a specific band this way. It will choose the "best" signal that it "sees" automatically.
If I enable the option to assign a separate name to the 5 GHz network on the main router, I can setup the Express to extend that band...but it will only extend 5 GHz.
As far as I can tell, the Express works exactly the same as an AirPort Extreme as far as producing and extending both bands on the two "new" Express devices that I have checked here.
Apple folks are quick to find flaws. If there were a major issue with the "new" Express in this regard.....as I said.....we would have seen many, many posts about this already. I cannot recall having seen another post on this support forum with a similar issue that you are reporting.