F/X2 is a sequel where F/X man Rollie Tyler (Bryan Brown) has become a toy maker. Mike Brandon (Tom Mason), the ex-husband of Rollie's girlfriend Kim (Rachel Ticotin), is a cop who asks Rollie for help to catch a killer.
The operation goes smoothly until an unknown man kills both the killer and Mike. Mike's boss, Ray Silak (Philip Bosco), claims it was the killer who killed Mike, but Rollie knows it wasn't true. Rollie suspects Silak's involvement in Mike's death.
Rollie calls on Leo McCarthy (Brian Dennehy), the cop from the previous movie who is now a P.I., for help. Together, they discover that it's not just Silak they have to worry about.