In this paper we apply the interpretation of magnetization measurements developed in an associated paper to Tb/Fe multilayers for magneto-optic recording applications. Our results show that remanence curves and delta-I plots are able to determine the controlling mechanism for magnetization reversal in Tb/Fe multilayers. In the multilayer with the greatest Tb content this domain nucleation controlled magnetization reversal gave way to domain wall pinning controlled reversal for films with more than 6 bilayers. In the intermediate Tb content multilayers, domain wall pinning became important only after 20 bilayers, whereas for the lowest Tb content film reversal remained domain nucleation controlled throughout the series. The form of the time dependence of magnetization is connected to the magnetization reversal process. All the films that showed magnetization reversal dominated by domain nucleation also exhibited a nonlinear In(t) time dependence whereas films showing domain wall pinning reversal exhibited a linear In(t) time dependence. The form of the activation volume as a function of applied field is the same for all the films controlled by domain nucleation processes.