Much of the explicit language was toned down for the UK DVD released 2001. Overdubs from the original actors were used to make the movie more "family friendly".
In the mid-1990s, an alternate edit of the film was released to tie in with the release of Weekend at Bernie's II (1993). Most significantly, the scene in which Richard interrupts Larry when he is having sex with the woman is trimmed, so that the woman does not appear. This makes the scene a little odd, as it's not obvious what Larry is doing in his room, and in total about 10 seconds of footage are cut. This was presumably changed to change the context of the sequel - the conclusion of Weekend at Bernie's II is dependent on Larry still being a virgin, and the original edit of the film strongly implied that he had been engaging in sexual activity. This version of the film now appears on the Region 1 DVD, but not on the R2.
The stapling of Bernie's toupee to the head was edited out of the German TV-version.