For me toggle buttons are a metaphor that was created for touch screen devices that don't transfer very well to desktop applications. They present a touch, hold and slide interaction and horizontal movement while keeping the mouse button pressed is a difficult movement to achieve.
Without using numerous toggle buttons they may also, depending on your design, struggle to portray which mode the button is on. For instance, if it were a volume on/off toggle will your design clearly show the current state without the user needing the opposite state to understand?
I think a third option you could consider is a button with an icon that represents a page view. Then when clicked a simple menu drops below with the 2 options. A 'tick' icon next to one option would indicate the current state. See my screenshot as an example.