If anything from the Vol. 2 catalog has been cancelled at this point, I think only Lionel's main dealers will know. I can't recall anything from that catalog, as opposed to the one before, being reported as cancelled on this forum.
Anyway it really depends on what you are looking for. Lionel's shipping schedule usually deletes cancelled items if they have earlier been given an expected shipping date although it is not totally reliable in that respect. More reliable is the Charles Ro website which is usually up to date about when they expect a particular product to be shipped to them. (You need to click on the product description to see an "Expected Availability" date.) At the moment this lists one product I have ordered that for some reason is not in the shipping schedule so I assume it's not cancelled.