Yep I vaguely remember the Sapphire II. At the time, the EL Falcon was struggling in vain against the VT Commodore, and waiting to the AU to come and 'save the day' (or so we thought). But this was merely the second coming of the limited edition Sapphire, not something related to the supposed EL II.
From what I'm gathering, the EL II may have been the unofficial name for the last ELs, possibly with AU-spec motors.
Jack Travis, E-Series Acting President
1989 Ford Fairmont Ghia turbo/GL replica (underway)
1994 Eunos 800M
1990 Ford Laser S