-Graphics are much enhanced over last iteration, now includes bloom lighting
-Demo shows double length beam katana
-Will be Missions where Travis will take a break and Shinobu and Henry will be playable
-2D bit side-jobs include coconut collecting, racing, cooking, shooting and more
-New camera lock-on feature includes a circle of cubes which indicate the enemy's health. -When all the cubes change from blue to red, your enemy is about to die
-Controls remain largely unchanged from the first title
-Cycle lock-ons with Z button
-Duck/roll in any direction with d-pad
-B trigger now kicks and punches
-Kill gestures, finishing moves make a return
-Blood will be in the North American version
-Press the 2 button to cycle between single and double beam katanas
-More wrestling moves than the original

For screens check here:

http://nintendodpad.com/Welcome/News/Entries/2009/9/3_New_No_More_Heroes_2_details_screens.html