Whatever else I have to say about Ghost Fall, listen to this first: it's as wonderful as the first and deserves your time and attention. Go forth and buy it in full confidence that it's great, and Dennison and Hoesly have matched or exceeded their work from volume one.
The writing and art continue to be wonderful, the characters continue to deepen (while behaving sensibly), and the mythology continues to expand. All is well. It's about all I could hope for from a second volume.
Tiny owls in witch hats.
What more do you want?
Go and buy it. The series is still more than worth your time.
That said, and beware slight spoilers, there is one thing I didn't think worked.
I would've liked more to be made of the haunting. It's the core of the book that sets all of the events in motion, but we see very little of it. Once Hern figures out enough to take care of the haunting, it's resolved quickly. The resolution is, after all the build-up, only a few pages long. While I realize this is a gentle series, with no room for extended horror, I would've loved more of the promised Halloween spookiness, and a more involved climax that showed us more of the interaction of gods and ghosts.
Bring on book three! I'm excited for more!