This is a comparison between the R-Rated DVD released by New Concorde and the German VHS released by City Lights.

There are 29 differences resulting in a difference in time of 7 minutes and 36 seconds:

26 cuts = 6 minutes and 45 seconds
3 alternative scenes = 51 seconds

In the USA, the second part of the Slasher series has not been released in an uncut version yet. More than 7 minutes of footage had been cut out in order to trim down the runtime. The same thing happened to the third part of the series (see here). The German VHS tape misses out on one gory scene, however, all the plot elements that were cut out of the R-Rated Version are included.

4 min
After Amy told Courtney that she is a little nuts, the latter is a little annoyed and responds that she isn't any weirder than Amy. Amy responds that two flaws are better than one.
8 sec

5 min
You see the two of them driving along the street in the car while they sing along to a song.
6 sec

6 min
The both of them drive along the street in an additional shot. During the next shot they stop in front of her school. The camera pans to the schoolhouse.
21 sec

9 min
When Courtney and Matt kiss each other, this is shown in different shots. Additionally, Courtney on the German VHS says that it is her birthday on sunday and that she wants to celebrate it. Matt says that this is probably going to be a big party and that the likes to come. Then he says that he has to leave for dinner. Courtney says that this is ok and accompanies him to his car.
R-Rated: 16 sec
German VHS: 33 sec

R-Rated	German VHS

10 min
Matt drives away with his car. Sheila watches him and remarks that he really is a presentable guy. Sally comments on this by saying that she shouldn't be jealous. Kim looks at Courtney and jokingly says that they're all happy that she is Matt's girlfriend. Then all start to laugh.
15 sec

10 min
During dinner, Courtney's mum looks at her a little longer and then looks to her plate. Subsequently follows a shot of Courtney who picks at her food while eating some of it.
25 sec

11 min
Courtney continues to pick at her food. Then we see a shot of her mother gazing into space.
12 sec

11 min
Again you see Courtney picking at her food while she every now and again looks at her mother. In return, the R-Rated version shows the side view of them a little longer.
R-Rated: 3 sec
German VHS: 20 sec

R-Rated	German VHS

13 min
Courtney dreams of Matt a little longer.
15 sec

14 min
The R-Rated Version again misses out on a part of Courtney's dream.
7.5 sec

14 min
Ditto.
18 sec

16 min
Inside her room, Courtney takes several posters off the wall and throws them away. Cut to Courtney's mum and Matt at the front door. She calls for Courtney and says that she has a visitor. Courtney comes out and Matt asks her if he could drive her to school. Courtney wants to do that and follows Matt to his car. Her mother just watches them leave. Subsequently we see Courtney restlessly twitching inside her bed, because she again is plagued by nightmares.
66 sec

18 min
Courtney and the others drive through the prairie a little longer.
19 sec

19 min
During the car ride the shot of the street is shown longer.
8 sec

20 min
Again, the ride was trimmed down. Additionally, there's an alternative shot in the R-Rated Version.
R-Rated: 2 sec
German VHS: 19 sec

R-Rated	German VHS

21 min
Sally - already tipsy - tells the others another funny story about her incident with her ex-boyfriend who was completely drunk and threw up all over the place.
68 sec

27 min
T.J. is sitting on top of Sheila a little longer. The others find this quite amusing.
9 sec

40 min
We see several shots of the surroundings. Then Jeff and Amy come through the door. Amy says that she will have to have an eye on Courtney because she behaved rather strangely lately. Jeff agrees.
33 sec

41 min
Courtney lies in the bathtub and thinks about matt. In between there's a shot of Amy and Jeff splashing water all over each other with the hose. You also see Sally who lies on the couch and sings.
15 sec

41 min
A lot of blood pours into Courtney's bathwater. Courtney then screams and jumps out of the tub. By now, the floor is full of blood.
10 sec

41 min
Now you see several shots of the killer laughing. Then follows a cut to Courtney who is standing in front of the bathroom, while a lot of blood flows through the gap under the door. Courtney leaves the shot a little longer.
9 sec

48 min
A shot of the moon, followed by an exterior shot of the house.
5 sec

50 min
We see the band playing their music a little longer. Then follows a shot of Matt and Courtney kissing.
16 sec

56 min
An additional shot of Jeff and Amy inside the car.
8 Ssc

59 min
Courtney turns to Amy and tells her that even though the killer murdered her sister Valerie he won't get Amy.
15 sec

63 Min
Courtney and Amy climb on top of the roof.
10 sec

68 min
A longer sequence of Courtney running away from the killer.
22 sec

69 min
On top of the roof, Courtney runs away from the killer. She hides, but suddenly gets surprised by the antagonist - he attacks her with his drill. Courtney ducks down, hits him with a wooden plate, and runs off.
21 sec

69 min
After Courtney lit the killer on fire, we see her laughing with the Bunsen burner in her hands.
4 sec