[natkin]

But ryanwaggoner is writing about Context perspectives, where there's no Project filter.

I emailed support to mention that there is an inconsistency between the Mac and the iOS versions:

iOS (Context view, Remaining) does not include items in projects On Hold.
Mac (Context view, Remaining) includes items in projects On Hold

Since there may be users of both filters, I do think suggestion 2 would accommodate all users: create a "Remaining (not On Hold)" to describe the current iOS filter (with a slight change to also exclude Context On Hold),. "Remaining" could describe the current Mac filter, which includes items On Hold.