This manuscript sheds light into the fundamental importance of the Principles of Local Activity and Edge of Chaos for the future design of innovative circuits, which, employing biomimetic memristive devices, are ideally suited for the development of energy-efficient artificially-intelligent technical systems. The focus of the work is the design of a Second-Order Reactance-Less Oscillator, across which oscillations may develop if and only if at least one of its two different volatile thermally-activated memristor physical realizations is biased along a negative differential resistance branch of the respective DC locus, which turns it into a source of local energy. Very importantly, the proposed cell is first found to lock in the oscillatory mode out of a local Hopf Supercritical Bifurcation when its design parameters are chosen from the Edge of Chaos region, providing clear evidence for the high degree of excitability it acquires as a result.