What is Universal Extractor 2?
Universal Extractor 2 or Universal Extractor (Bioruebe version) as it is also called to avoid confusion is an unofficial updated and extended version of the original 
Universal Extractor by Jared Breland. As the development of the original version has stopped and no update has been published for years, many forked (modified and maintained by the community) Universal Extractors have arised. This is the most advanced and the only one with a fully transparent development using a public GitHub-powered source code repository.
As a short overview, here are some key features, which are new in this release:
Batch mode
Silent mode, not showing any prompts
Scan only mode to determine file types without extracting
Integrated updater
100+ new supported file types
Audio and video extraction for multimedia files
Cascading context menu
Support for password list for common archives
Improved optional status box with progress indicator
New detection methods + more detailed output and error messages
Support for some extractors not shipping with UniExtract as plugins
Resource usage/speed improvements, lots of fixes
First start assistant instead of installer
Full functionality available in no-install version
Auto-using 64 bit versions of extractors if supported by OS
See the changelog for a complete log of all improvements. Feel free to submit bug reports or feature requests using the issues tab here or the built-in feedback window in Universal Extractor; look at todo.txt for a list of features which may be included in future releases.
Universal Extractor uses TrIDLib by Marco Pontello and many other great tools and libraries to support as many file formats as possible. A detailed list can be found here.
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Comments and Reviews
An excellent utility that extracts many types of Windows executables & compressed archives.
Why are you compare this app (which is an compress-decompress extractor) with the "Resource Hacker"? It is for totally different use, maybe could replace winrar for example but NOT the ResourceHacker.
It does what most users need, even change icons. Resource hacker could have more features but I'd never ever use it on a production environment because it is NOT open source. That means we don't know what exactly it does to the executable under the hoods therefore is not trustable. Just someone crazy would use resource hacker to modify a file that needs to be redistributed around an entire organization or even for personal use. I would never use and I strongly advice everyone serious not to do so.