Using Area2Ds only seems to provide signal functionality for other Physics2D objects entering or exiting.
If there is code I'd like to run every update that two PhysicsBody2D's are intersecting, how might I achieve this?
You might be able to use the Physics2DDirectSpaceState to detect overlaps in a more low level way. I have not tried it myself for intersecting PhysicsBody2D nodes, but I have used if many times for detecting if the mouse is over a physics object.