Two-way binding is being used without popular mention in some industry-specific areas. The area I'm familiar with is control software for audio processing hardware. Lots of different processing platforms allow the creation of control panels with a drag-and-drop UI, and all widgets assigned to the same hardware state variable are also linked to each other, in all directions.
I also implemented my own two-way/omnidirectional data binding system ages ago (before I knew what it would even be called) in Java Swing for another audio UI, and all the challenges you mention are real, but as you say, not insurmountable. Multiple copies of my UI can be controlling the same hardware, and they will all remain in sync without infinite feedback loops, but getting there took lots of work.
I also implemented my own two-way/omnidirectional data binding system ages ago (before I knew what it would even be called) in Java Swing for another audio UI, and all the challenges you mention are real, but as you say, not insurmountable. Multiple copies of my UI can be controlling the same hardware, and they will all remain in sync without infinite feedback loops, but getting there took lots of work.