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For the Habitable Worlds Observatory (HWO), it is essential to broaden the controllable wavelength bandwidth for high-contrast imaging and spectroscopy to increase the exoEarth yield and characterization. The Parabolic Deformable Mirrors (PDM) subpackage, under the NASA Headquarters-directed Exoplanet Spectroscopy (ExoSpec) Work Package, is specifically tailored to do so. We have successfully procured a first-generation (Gen 1) PDM device and completed in-depth characterization of the device. This robust evaluation has become instrumental in informing subsequent stages of development, particularly in shaping the design and specifying requirements for the next generation, Gen 2, PDM device. We have built a testbed in an environmentally controlled cleanroom to experimentally demonstrate the use of a PDM in a coronagraph instrument with an integral field spectrograph (IFS). This versatile testbed is designed to test different DM architectures, low-order wavefront sensing schemes, and a lenslet-based IFS. This provides us with a basis for comparison with different DM configurations: 1) flat DM, 2) PDMs, and 3) a flat DM and PDMs. In this communication, we will discuss the testbed design and updates, PDM characterization, and Gen 2 requirement definitions.