I think this is very fun and creative. There are some small edits I was very appreciative of — changes to Lois falling from the Planet building, the removal of the super-breath from the Metropolis battle, and — if I’m recalling correctly — the removal of the toilet flush sound from the Fortress.
Unlike the other Superman II re-cuts, you’re not looking to replace Superman II, you’re just giving us a fun, new take. And you achieve that. This is especially perfect for those who like the Lester cut (I’m actually not part of that crowd…even as a young boy I didn’t like much of the Lester cut [the pink bear scene was always bothersome, as were lots of other parts...yet somehow still loved the film overall. Kids are very forgiving]). The addition of Lara in the Fortress scene when Superman has is powers removed is utter genius. The re-edit of the White House scene (in your second half), with the quicker pacing, is also terrific.
What doesn’t work, however, is that since Superman is aware that he turned back the world to avoid the evil villains coming to Earth, having him release them accidentally the second time around kind of implies that Superman is a complete doofus. If there was some way to have them escape OUTside of Superman’s involvement with the Paris bomb in the second go-round, that is to say, if something somewhere else occurred while Supes was in Paris, then perhaps this major plot point could be overlooked. But, hey, this is still a fine piece of work. And, it should be pointed out, you’ve done some really smart, tight editing.