V8 JavaScript Engine: V8 Release 5.4
v8project.blogspot.com
v8project.blogspot.com
It looks like this optimization is for low-memory devices which probably doesn't apply to what you are targeting with your Electron app.
Keep in mind that this blog post is talking about V8 memory and not Chrome memory. The percentage for Chrome is obviously lower.
I tried to tracking down what progress between versions looks like, but couldn't find anything solid in my few minutes of googling.
https://github.com/electron/electron/tree/master/vendor -> node
If you want to run a full browser environment headlessly, take a look at PhanthomJS or SlimerJS, or use one of the fake DOM thingies for Node.
For a list of headless browsers, see [0]. Not all entries in that list run v8.
Having said that: if you just want a headless V8 VM, Node.js is what you're looking for. You can even use jsdom there to simulate a web page if the JS you're trying to run requires it.
If you're looking for headless Chrome/Chromium (which includes V8), try nightmareJS.
Neither Node nor nightmare include V8 5.4, but they will in the relatively near future.