Got tied up at work, but here is a drawing based on what I think is the current wiring. You can see where one of the red wires is not connected to switch 2. I have no way f knowing which red wire in the left junction box is connected to white vs green in the BX cable. I drew it as switch 1 is connected to the white wire and the capped red wire is connected to the green wire from the BX cable. Those two could be reversed. However nothing in the BX cable is neutral, and the only ground in the BX cable, the left junction box, and the switch box is coming from the right (if it’s connected to a ground at all). The right junction box is assumed to be there, and other than the BX cable, assumes that proper color codes are used. The power source for the assumed right side junction box is the Black, White, & Green on the far right. There may also be ground wire in the conduit or cables to the devices controlled by switches 1 & 2. I drew the white wires with gray since white would not have shown up at all.
If it were my house, I would replace the BX cable with a piece of conduit (flex most likely) and pull five wires through it and the conduit down to the switchbox as follows: Black for hot, White for neutral, Green for ground (I don’t generally trust a flex conduit as a ground conductor), and two other colors for the two switched hots (maybe yellow or orange - which I keep in stock).
