well, as we all know, "Alpha and Omega 2" got mixed to positive reviews, with critics saying it's an improvement over the first movie (in terms of story, script, character depth, voice acting, humor and heartwarming scenes). The movie currently has a 59% rating in Rotten Tomatoes (9 good reviews, 7 bad reviews) and some critics even said it's one of the best straight-to-DVD sequels out there.
i do agree with most of that (and i gotta say again, i absolutely loved Alpha and Omega 2), but i can't say it's a 100% improvement over the first movie. i mean yeah, the jokes are funnier; there are a lot mais cute/heartwarming moments; it had a great villain; the actors did a great job in their roles, but really it doesn't improve the first movie entirely. i'm gonna say it like this: both filmes are equally great! i loved A&O 1 and i loved the sequel, but i can't say who's the best so they're both equally great movies.

also, "Alpha and Omega 3" and "4" are being made and are gonna come soon. since A&O 3 was originally set to come out in December (for some reason), they pushed it back, so it's probably gonna come out in May, and A&O 4 might b coming out in January 2015.

as of right now, we still don't know for sure, but since A&O 2 did pretty good in critical/audience reaction, i'm gonna keep checking to let y'all know :)