The reason for the cuts is the European version, because those sequences were shortened in the UK version of the film. Removing those dangerous scenes was apparently supposed to avoid that children imitate them...

Video: 1:54.55 minutes
DVD: 1:54.36 minutes

1:47.52
Bruce Lee looks at the lion-statue with the nunchaku in its mouth. He grabs the nunchaku.
( 4 sec. )

1:47.58
Bruce spins the nunchaku through the air.
( 12 sec. )

1:48.13
Bruce spins the nunchaku briefly through the air before he lashes out.
( 1 sec. )

1:48.16
Bruce spins the nunchaku through the air in front of the demon.
( 1 sec. )

1:48.24
A closeup of Bruce spinning the nunchaku through the air.
( 1 sec. )