Saw it earlier tonight, in 3D.
It wasn't terrible, but wasn't really great, either. Just kinda there, and a bit better than the first one, if for no other reason than there weren't any big trainin' montages or Brendan Fraser muggin' for the cameras.
Though it seems that while the first movie established the Joes as an international organization, this one reduces it back to an American one.
And, as far as the 3D goes, the only sequence where that's effective was when Snake Eyes & Jinx took on the Cobra ninjas in the mountains. It wasn't really necessary for any other part of the movie.