I have used AutoEnginuity software since their company opened. The biggest issue is that it has to be installed on a laptop which I have and you can pick what you want to monitor and either or both watch it or stream it to a file and play back the recordings later. Their latest version works on LAN type cars like my Chevy HHR and you can see even the "brain" is doing with it's inputs and such. O2 sensors should last a very ling time unless the engine is hot rodded but then my 914/6 vintage race car had one on each side of the collector and they lasted for 6 years and many, many races w/o replacement!
Check this out:
2012 1.4L Cruze 2LT pulling P015B O2 sensor code.