I've just returned mine. I loved the artwork but the plexiglass IS crappy and DOES move around, which is unacceptable to me. Not only that, the orange frame digs into my wrists because it protrudes from the stick surface . This is more pronounced if you lean back than if you're upright. Both of these flaws are an artifact of wanting to make customizing the stick easier but they are absolutely not worth the problems.
I love my Madcatz TE edition from 2008 but this TE2 is an abomination. The only clear improvement is the foam underneath that makes the stick warm and comfy when I'm wearing shorts.
Otherwise, the original TE is better.
With all that said, mad props to Madcatz for the way they handled the return. Absolutely zero hassle. I explained my issue and they issued an RMA a day or two later.
I will definitely be returning to buy the TE3 if it doesn't suffer from these issues. the top stick surface NEEDS to be smooth. The only protrusions should be the buttons and the stick. Nothing else!