Chris here…
OK, I finally managed to get my set today, which I’m delighted about!
One of the most significant things about this release is that, unlike the UK release of Season 1 Volume 1 which in terms of the interior artwork was more or less a straight reproduction of the US version, for this release in artwork terms there are differences between the UK and US versions! 
One difference we’ve talked about already is the front of the box the discs come packaged in - on the US set we have Lion-O artwork, on the UK set we have the Eye of Thundera logo coloured blue, in what is basically a recoloured version of the UK S1V1 set. The other difference already talked about is that on the spine of the US S1V2 box we get another image of Lion-O, whereas on the UK version we get an image of Tygra! 
However, there are more differences! One of those is with disc numbering - whereas with the US season 1 set the disc numbering from the previous set would carry over (so, the first two discs of the US S1V2 release were “Discs 7 & 8”), here in the UK they start the numbering over again - so, the first two discs of the UK S1V2 are numbered “Discs 1 & 2”! 
The other big, big difference is that the US set features artwork of the Mutants which is absent from the UK version!! I was shocked to see such a big change to the UK artwork - here are some comparison pics:
US Season 1 Volume 2, first two discs, front & back cover:
http://www.thundercatslair.org/cartoon/s1v2_uscoverpic1.jpg
UK Season 1 Volume 2, first two discs, front & back cover:
http://www.thundercatslair.org/cartoon/s1v2_ukcoverpic1.jpg
US Season 1 Volume 2, first two discs, front cover:
http://www.thundercatslair.org/cartoon/s1v2_uscoverpic2.jpg
UK Season 1 Volume 2, first two discs, front cover:
http://www.thundercatslair.org/cartoon/s1v2_ukcoverpic2.jpg
US Season 1, Volume 2, first two discs, back cover:
http://www.thundercatslair.org/cartoon/s1v2_uscoverpic3.jpg
UK Season 1, Volume 2, first two discs, back cover:
http://www.thundercatslair.org/cartoon/s1v2_ukcoverpic3.jpg
Even though the changes are quite minor, this is nonetheless exciting stuff to me - hope you guys enjoy these comparison pics! There are, of course, two more sets of these, featuring Tygra and Cheetara, but I decided not to clog up this thread with them all - if anyone would like to see these others, I will, of course, be happy to oblige! 
Take care…