This is expected behavior until the “nothing” 
. Because at first boot it attempts to expand the data partition and that is why there is one extra boot.
For the version can you just run:
git log
In the mender-convert directory. This does sound similar to this issue,
https://hub.mender.io/t/raspberry-pi-3-model-b-b-raspbian/140/26?u=mirzak
Which was resolved by updating to the latest version of the 1.1.x