On the side, VR II lens has "II" in the lower line, after max aperture values and letter G - AF-S Nikkor 55-200mm 1:4-5.6GII ED. The letters "VR II" can also be read around front element - 55-200mm 1:4-5.6G ED VR II:
The earlier version has the side marking missing the II and no text around front element at all. Also, VR is a separate red marking rather than part of upper golden text row on side:
55-200 VR http://images.forum-auto.com/mesimages/368591/nikon-55-200-vr.jpg
Some early (prototype?) copies will even have the side text "Nikon DX SWM VR ED IF ∞-1.1m/3.61ft Ø 52" in white, not golden letters. No red VR marking on those:
(source: cashconverters.com.au)