I haven't seen the TT but the first one was decent from a movie standpoint. I did feel like it was a little childish (but not as bad as "Episode 1") at times but it was still a good flick. (let me tell you if the devil is chasing me I am not gonna stop and just look at some dumb ass straggler, I'm gonna RUN!)
As far as special effects, you should look at this months CineFX magazine. It has a great article about TT, and for the Texans, Spy Kids 2 as well as some Triple X FX. It's a great mag and one can learn a great deal from it.