I assume you are meaning the Nikon v1 or J1. Both capable of shooting lightning, but the common standard for shooting lighting is to keep the shutter open for as long as possible, therefore the 20 images before and after are not necessary.
The 1 series uses video to capture images which is why they advertise the 20 frames either side. I imagine during the day time it might be reasonably efficient at capturing lighting, but it will still require you to hit the shutter release at the right time.
The 1 series camera is new, and aimed at the expensive end of point and shoot giving some flexibility with lens choice. Of the 2 the V1 would be the better camera but considerably more expensive that a lot of mid range DSLR's
I don't know enough about the 1 series, but they would not be my instant choice for lighting or extreme weather, I would be looking to a DSLR or a bridge camera (Same controls as the DSLR, but fixed lens)
For twilight and night time shots the DSLR will get you a result fairly constantly, and they also give you loads of flexibility. On the other hand the 1 series is small and light and a very good camera. There are other similar styles out there if that's the way you want to go.
Happy choosing