Difference between <ExtensionManifest ExtensionBundleVersion> and <Extension Version>?

As I understand it, each ExtensionManifest can contain multiple extensions: they are a package. My guess is that this allows you to include multiple related tools with one installation. When using the ExManCmd tool (--list all command), however, the "Extension Name" field in the output shows the bundle name [and version] rather than the included Extension's name. Is this expected? Could someone please clarify the ambiguity a bit?

Further, is the expectation that any time an <Extension> entry in the <ExtensionList> has a version bump that the <ExtensionList> also gets a version bump?