Book 2 of the Invisibles picks right up from Book 1's cliffhanger ending: Dane, one of his fingers chopped off by the sadistic (and demonic) Orlando, has taken flight, and the Invisibles have to find him. Unfortunately, heavily-armed "Myrmidons" have surrounded them, and what follows is the first all-out action scene since the very beginning of Book 1.
After this, things slow down a little, as creator/writer Grant Morrison "opens up" the world of the Invisibles. Even though we still don't know much about our main characters (King Mob, Boy, Ragged Robin, Lord Fanny), Morrison introduces new people to the fold, and we see how the exploits of the Invisibles affect the rest of the world.
First we are introduced to one of the more monstrous creatures ever witnessed in mass media entertainment, something that just might be the next king of England. Then we meet Jim Crow, an Invisible witch doctor who's both a world-famous rapper and a host for sacrifice-hungry voodoo spirits. And finally we are given one of the best single-issue stories in the series, "Best Man Fall," which, despite its seeming insignificance to the larger story, possesses more heart and emotion than any other in the series' history. A nonlinear narrative, this story shows how the "other side" works, and for once we see how our "heroes" (King Mob in particular) could just as easily be seen as "the bad guys." This is a great story, and worth the price of Book 2 alone.
The book closes out with a story arc that revolves around transvestite shaman Lord Fanny, in which we see his/her initiation as a young boy into the world of the supernatural. At the same time, the forces of darkness close in on the Invisibles in the present, and the two storylines merge into a narrative that defies the laws of the time/space continuum.
This arc is the first glimmerings of Morrison's grander scheme with the series; whereas before the Invisibles worked on an us-versus-them mentality, now we slowly begin to see that there are larger ideas at play. The volume ends with a story showing where Jack went, after his escape in the book's opening story, and finalizes his character arc from defiant loner to full-fledged Invisible.
The artwork is again split among various artists, with my favorite being Chris Weston in the Jim Crow story (Weston later became the regular artist, after Phil Jimenez's run on the title). Jill Thompson turns in the first story, capping off her run that began in Book 1, and she returns with the Lord Fanny arc, with a few one-off artists filling in on the other stories. Again, the artwork is nowhere near the level of Morrison's writing, but it's not terrible. In fact, the art takes second place to the writing in the Invisibles, because this isn't "just" a comic book: the Invisibles is subversive literature of the highest order.