The second movie, GRETA, was completed and is included on the Blu-ray as a bonus. It's actually kind of fun; a lot more coherent than the 30 minute version they cut it down to, but still super-wacky.
And talking about this movie without including this amazing video should be against the rules:
(P.S. I drank Night Train in college and greatly preferred it to Thunderbird. It tasted more like wine than Thunderbird's synthetic apple juice taste. Wild Irish Rose was another winner).