This release is a follow-up to the 2001 tribute album, Ghost Children, which was conceived, produced and sold by Neil Main in aid of the Act IV charity, the Make-A-Wish Foundation of Northern Illinois. The name of the compilation is a homage to The Smashing Pumpkins' internet only release, Machina II/The Friends & Enemies of Modern Music.
A tribute album with a limited edition of 200 copies and was - unlike Ghost Children: A Tribute To The Smashing Pumpkins - produced by Act IV, a group of Smashing Pumpkins fans responsible for the Act IV-A Tribute To The Smashing Pumpkins charity concerts at Metro in Chicago. Like the previous Ghost Children CD, each CD is hand-numbered. It was released on November 17, 2006 through the Act IV website. All profits from Ghost Children 2 are donated to the Make-A-Wish Foundation of Illinois (formerly known as the Make-A-Wish Foundation of Northern Illinois). This tradition comes from SP's July 7, 1998 charity tour stop in their hometown of Chicago, where they donated all the profits to Make-A-Wish. This compilation is sponsored by the SPIFC
For this compilation, organizers drew upon covers from three years of Act IV demos. This included demos for the two Act IV benefit concerts in 2001 and 2002, as well as the cancelled Act IV 2003 concert. Additionally, the organizers received a new batch of entries from everywhere from Brazil to Switzerland. In all, nearly 70 artists were considered for inclusion on the charity compilation. Ultimately, 13 tracks were chosen for the CD by a selection committee involving Act IV organizers and other Smashing Pumpkins fans, such as Neil Main (the producer of the original Ghost Children), and Karl Daher of The Smashing Pumpkins Internet Fan Club