  The recent, unexpected, findings of upstream neutral modes in particle-like
fractional quantum Hall states, led to a realization that the nature of the
neutral modes is far from being understood. Moreover, the observation of
spatially separated of (at least) two downstream charge modes in hole-conjugate
states (see Part One - Conductance), still faces unresolved contradictions
between conductance and noise measurements. In this work we show how current
fluctuations measured in various configurations shed light on the interplay
between neutral and charge modes. We demonstrate that once one of the charge
modes is taken out of equilibrium, counter-propagating neutral modes born in
the equilibration process affect the upstream charge modes, giving rise to a
novel mechanism for shot noise with quantized Fano factors. We present a
theoretical model that accounts for most of the experimental observations.
