Well, guess what, there's actually a second Ikaruga arrange by the same artist. If you thought there was too few info on the first one, just marvel at this. Only reference I find is
this blog again (which references the arranger as Ms. Riddle). No tracklist, no title, no nothing. Not having an English or even a romanized title doesn't help much. Looking for the Dojin circle also does nothing, seems they only did manga dojins from that point on. Hopefully someone will be able to make something out of the scans. Like in the first one, the actual disc is a plain CD-R with no printed picture, that's why it's not included among the scans.
As for the cd itself it's kind of more of the same, maybe a little improved. Though, honestly you don't really get to notice it because it's even shorter; talk about lack of substance. The first track is an arrangement of stage5, while I'm not sure of the second one on first listen. Maybe a bit too vague of an ambient vocal track, not as tight as the first.
In any away, both CDs are still enjoyable, if at least for the rather surprising lack of Ikaruga arrangements.