OVERALL: Draw

Both releases have exclusive extras.
The Volume 2 release exclusively includes an audio commentary for “Texas Chainsaw Massacre”, two additional Vintage Nerd Material clips, outtakes of 5 episodes (from season 3), YouTube trailers, and easter eggs.
The Season 2 release includes an exclusive featurette and music video.

CUTS:

• R0 Season 2 America- Cinemassacre/Screenwave Media - Yes, due to music and movie rights issues.
  The “Teenage Mutant Ninja Turtles III” Parts 1&2 episodes are not on the DVD set due to rights issues.
  On “Ghostbusters”, the Ghostbusters theme song has been replaced with a sound-alike version of the song. Also, clips of the movie and TV series have been replaced with still images.
• R0 Volume 2 America- ScrewAttack - Yes, due to music and movie rights issues.
  The “Teenage Mutant Ninja Turtles III” Parts 1&2 episodes are not on the DVD set due to rights issues.
  On “Ghostbusters”, the Ghostbusters theme song has been replaced with a sound-alike version of the song. Also, clips of the movie and TV series have been replaced with still images.

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Comparison added by James-Masaki_Ryan on 18/12/14
Comparison last updated by James-Masaki_Ryan on 07/02/17

UPDATE LOG:

18/12/14: Initial entry.
07/02/17: Added US Season 2.