The Collector's Edition cards are essentially the same as the 1st edition ones. The only changes made were to clear up errors and add clarifications from the FAQ.
The following changes were made in the 2nd edition:
The Ent cards now require that Gandalf the White be in play and a Companion be in Fangorn (previously Saruman had to be in play and Gandalf the White in a Rohan region or in Fangorn).
To the Last Battle now requires that Aragorn be with a Free Peoples Army in a region outside of a Free Peoples Nation (previously Aragorn and/or Gandalf the White had to be with a Free Peoples Army in South or North Ithilien, Dagorlad, or in any region in Mordor).
Paths of the Woses no longer requires that there be a Free Peoples Army in Minas Tirith.
"War is much more fun when you're winning!" - General Martok