The most notable change to the formula is the graphical style. Escape Goat 2 has a much richer, pixel-dense art style than the original, courtesy of artist Randy O'Connor. MagicalTimeBean also plans to integrate "some new gadgets and perhaps new creatures." The sequel will debut on PC; plans for an XBLIG release are currently undecided.
If you're wondering just what Escape Goat is all about, we recommend trying the game's browser-based demo.