here my short review for half day usage on lollipop (flash it at midnight)
1. previously lock screen on 4.4 only have how many steps walked, now even got temperature.
yet on top left corner showing telco name (my maxis)
2. telco name no longer show at the bottom of the notification bar instead showing it when show all notification toggles
3. there no mute in lollipop, although I am working with it, but better bring it back in future update

4. is very very smooth, launch apps even faster than kit kat
5. battery drain is faster compare to kit kat maybe due to I straight away flash it, will notice few more battery charges see how it goes
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Google changed the way you silent your phone, called interruption. On your 3rd picture, 4th row, center icon named "all". Click on that and it cycled through all, priority and none. None means total silent, INCLUDING alarms. Priority is what you can customize via whitelist.