He Kept it Up!
I wasn't sure if Moore could keep up with the great universe he'd created in the first series. After all, parody often falls prey to using all its "jokes" in the first run and then becoming a horrible shell of itself (see the Scary Movie series). This one continues to look at different topics on our life through the lens of a super hero world. The only thing that seems to be a bit discontinuous is the homosexuality thing being such a big deal. I can see that being more of a big deal in 80s when Watchmen was written. Or maybe it's hard to remember how the 90s were.
I love how he uses the mice to do even more of a parody of comic book tropes without messing up the story with the main characters. Definitely pick this up. It has great stories with lots of twists and turns and finished up all (or 99% of all) of the stories from the first book