much better.
the diode is a good idea, that way you can use the switch to also turn off if you want, in addition to software time out auto power off.
Also, does RC2 have internal pull down (i haven't checked the data sheet). If not, don't forget to add it externally, because the switch can only switch high.
The only thing is the choice of fet's. i haven't checked your data sheet, but you want to make sure you get a decent on VGS voltage. I had a quick glance, it says VGS 3V, which is probably no good for your circuit, as your battery drops off and gets 2.9, 2.8, 2.7 etc... what will happen? check the data sheet carefully.