The infra-red camera module v2 (Pi NoIR) replaced the original PiNoIR camera in April 2016. The v2 camera has a Sony IMX219 8-megapixel sensor (compared to the 5-megapixel OmniVision OV5647 sensor of the original camera).
The Pi NoIR gives you everything the regular camera module offers, with one difference: it does not employ an infrared filter. (NoIR = No Infrared.) This means that pictures you take by daylight will look decidedly curious, but it gives you the ability to see in the dark with infrared lighting.
The camera works with all models of Raspberry Pi 1, 2 and 3. It can be accessed through the MMAL and V4L APIs, and there are numerous third-party libraries built for it, including the Picamera Python library. The V2 cameras are also backwards compatible, should you want to swap out a Pi Camera on an existing project or use an older model of Raspberry Pi. Just make sure you're version of Raspbian is up to date.
There are some changes, of course, primarily in its CCD resolution. It now boast an 8 megapixel Sony IMX219 CCD (as opposed to its predecessor's 5 megapixels), and there's a new lens in place to beam a crystal-clear image onto it. You can expect resolutions for Photos up to 3280 px by 2464 px and Video at 1080p at 30fps; 720p at 60 fps; and 640 by 480p at 90 fps, offering a bit of slow-mo fun.