Director Motomu Toriyama says that in spite of the game having the "same amount of volume" as the original, the upcoming sequel features less pre-rendered cutscenes, opting for more real-time cinematics.
According to Famitsu (via Andriasang), the bonus of switching to real-time cutscenes is that armor changes will appear during cinematics. Those cinematic sequences may feature some "extreme scenes" and QTEs according to the Japanese magazine--but don't expect anything akin to a God of War game. Final Fantasy XIII-2 has a CERO B rating, the equivalent of a Teen rating here in the States.
Expect Final Fantasy XIII-2 in all its sub-9GB glory on January 31.