  We report time series and variability information for the optical
identifications of X-ray sources in 47 Tuc reported in Paper I. The eight CVs
with secure orbital periods have fainter accretion disks, in the V band, than
field CVs with similar periods. These faint disks and the faint absolute
magnitudes (Mv) of the 47 Tuc CVs suggests they have low accretion rates. The
median Fx/Fopt value for the 47 Tuc CVs is higher than that of all known
classes of field CV, because of both the faint Mv values and the relatively
high X-ray luminosities (Lx). The latter are only seen in DQ Her systems in the
field, but the 47 Tuc CVs are much fainter optically than most field DQ Hers.
Some combination of magnetic behavior and low accretion rates may be able to
explain our observations, but the results at present are ambiguous, since no
class of field CV has distributions of both Lx and Mv that are consistent with
those of the 47 Tuc CVs. The radial distribution of the X-ray detected active
binaries is indistinguishable from that of the much larger sample of optical
variables detected in previous WFPC2 studies. The X-ray properties of these
objects are consistent with those of active binaries found in field studies.
One reasonable and one marginal candidate for optical identification of a
quiescent LMXB was found (one is already known). Finally, we study the blue
variables showing little or no evidence for X-ray emission. Their generally
long periods and the absence of flickering suggests they are not CVs. At
present we have no satisfactory explanation for these objects, although some
may be detached WD-main sequence star binaries.
