While I'm not that familiar with exponential, I think what I am hearing is a different beast. I'll explain what my concern is and maybe you can advise me of whether this is a linear vs. exponential question.
The way I learned digital FM is that it normally has two basic controls - frequency ratio between carrier and the modulator, and amplitude of the modulator into the carrier. The frequency ratio acts sort of like the waveform selection of an analog oscillator, e.g., sawtooth, square wave, etc., but much more complex waveforms can be created. Amplitude acts like a VCF on an analog (although it is more directly related as a volume control of the modulator).
So, analogizing it to an analog synth, I set the frequency ratio to get the complex waveform, then I adjust amplitude (modulator volume control) like I would the VCF to determine how many of the partials I want to keep. Having the amplitude "volume control" all the way up is like having the VCF wide open so all the partials come in. Turning down the amplitude is like slowly closing the VCF - fewer and fewer partials go through. In the digital world, the frequency ratio determines what sidebands can be created around the carrier frequency, including the harmonic or inharmonic nature of the sidebands. The amplitude controls how many of the possible sidebands are actually created.
On the Pro 2, it seems like I have one control doing double duty - both setting the ratio and the amplitude. That's where my confusion is. Is there truly only one control to set the relationship between the carrier and modulator, or do I have access to both basic controls? What I see so far is that the FM control deals primarily in the frequency ratio and to a lesser extent the amplitude. I don't see any separate control for amplitude. Of course, Dave Smith, the genius that he is, may have devised a different way of controlling these two parameters. I haven't seen any tutorials of the FM section.
So, I'm trying to get to the bottom of how to work the controls and whether I can control both.