Enjoyable sequel that starts of very interesting, each section is tribute/parody to various works. It is very b-movie with some truly awful special effects but I think that very much works to the charm of the film. The only really bad part is the last section, a medieval setting which is not that interesting and drags on for way too long.
Belongs to that brief era of early 90's horror, perhaps alongside "Night of the Demons 2," when horror movies were allowed to be little more than self-referential cartoons. Gorgeously photographed, the film spends most of its runtime cycling through familiar genre movies, including "Alien" and "The Haunting," before becoming bogged down by a lengthy detour into an "Excalibur"-ish fantasy setting. A true oddity.