No, Pennington Cheyenne II is not a blend. It will never revert back to any common bermudagrass.
Unfortunately, that's not something we could determine since whether a grass thins out, dies or thrives in an area is entirely dependent on how it is maintained, what nutrients it needs and are provided, and the weather and conditions around it to allow it to thrive or die.
According to Pennington they have varying data as to the tonnage for the Pennington Cheyenne II Bermudagrass, as it varies a little by location and management practices. They have had tonnage from VA at 14k and Texas at 9k lb per acre. It will crow more like coastal, but with finer stem and greater leaf to stem ratio. They did state that if you were further north, Mohawk would be a better multi purpose option that would perform well if managed for turf or for hay production. Another great option for the south besides the Cheyenne is the Tierra Verde.