The stability of the contact line region as affected by the disjoining pressure has been analyzed by solving the augmented Young-Laplace equation. Because of the results in Part I (Zhang, X., Neogi, P., and Ybarra, R. M., J. Colloid Interface Sci.), we have concentrated on obtaining multiple solutions for the same set of conditions. As many as five solutions were obtained: drops that end in a thin film with uniform thickness and where the film shape oscillates, drops that end with microscopic contact angles, as well as uniform thin films of two different thicknesses. The results of linear stability analysis were used to show that most cases were unstable to infinitesimal disturbances. Only two stable drop shapes for the particular disjoining pressure investigated are stable, a thin film of constant thickness and a thin drop that ends in a film of same thickness. Both multiplicity and stability have been discussed here for the first time and shed considerable light on the role of the attractive and repulsive forces.