Motivated by a recent progress in studying the duality-symmetric models of nonlinear electrodynamics, we revert to the auxiliary tensorial (bispinor) field formulation of the O(2) duality proposed by us in arXiv:hep-th/0110074, arXiv:hep-th/0303192. In this approach, the entire information about the given duality-symmetric system is encoded in the O(2) invariant interaction Lagrangian which is a function of the auxiliary fields V_{alphabeta}, bar V_{dot alphadot beta}. We extend this setting to duality-symmetric systems with higher derivatives and show that the recently employed nonlinear twisted self-duality constraints amount to the equations of motion for the auxiliary tensorial fields in our approach. Some other related issues are briefly discussed and a few instructive examples are explicitly worked out.