Your question is: does an exterior wall supporting a 2 hour assembly need to be rated from the interior only.
At least in our code, yes. The only time you would rate something on both sides is an interior load bearing wall. If you think about it practically, you are protecting one occupancy from another. This is what generates the 2 hour rating. Now, because we don't want the 2 hour separation to be compromised due to a structural failure, everything supporting the separation needs to be rated as well based on the risk, which is the occupancy.
I've always found that once you understand what is driving the requirement for the fire rating (the reason why it needs a rating), it helps me understand what else needs to be rated and how. It sounds like you are on the right path and just looking for confirmation.