First of all, I haven't watched the first episode. So I can't say if episode II is better or worse. I guess people who know the old Edgar Wallace flicks will enjoy the film most, as there are (at least I guess so) allusions. So as I watched this film as if was something unique, I can they that even though it was quite funny, except some predictable jokes (at least there were less than in episode I, according to a comment from the magazine "stern"). The old "Wallace"-crew did a good job, but the best jokes, in my opinion, came from the cameos of Achim Menzel and Roger Willemsen. The role of Chucky was too small, this Klaus -Kinski-Parody was really great.
Review of The Vexxer
