I'd agree with that, up to a point.
I'm not convinced that weight gain as a result of counteracting hypoglycemia is a strong argument. Type 2's for example may never experience a true hypo if they are not using insulin or sulphonylureas, yet they are far more predisposed to weight gain because of the consistently high insulin levels. Even insulin users, like me, may have relatively few hypos, which don't need an enormous number of calories to correct, yet gain weight if the insulin levels are consistently high. A few dextrose tablets in the course of a few weeks ain't gonna do it.
I'm more convinced by the argument that insulin derails the fat metabolism. If we eat 3 meals a day, and each meal takes say 4 hours to digest, then 12 hours out of 24 in a day are fueled by dietary calories, in theory at least. The other 12 must be fueled from stored reserves in the adipose tissue and elsewhere. If insulin levels are too high, however, these reserves are inaccesible and free fatty acids can't be used for fuel. The body then runs almost exclusively on glucose and the demand for glucose manifests itself as a hunger for starches and sugars. Cravings, snacks, indiscrete munchies of all kinds might account for a much greater calorie intake. The metabolism is then geared towards making fat, not burning it.
So I reckon that consistently high insulin levels fuel lipogenesis and the extra calories are feeding that fundamental hormonal imbalance.
fergus