This is the second of two papers investigating the spherical averaging of ellipsoidal galaxy clusters in the context of X-ray and Sunyaev-Zeldovich (SZ) observations. In the present study we quantify the orientation-average bias and scatter in observables that result from spherically averaging clusters described by ellipsoidal generalizations of the NFW profile or a nearly scale-free logarithmic potential. Although the mean biases are small and mostly <1%, the flattest cluster models generally have a significant mean bias; i.e., averaging over all orientations does not always eliminate projection biases. Substantial biases can result from different viewing orientations, where the integrated Compton-y parameter (Y_SZ) and the concentration have the largest scatter (as large as sigma ~10% for Y_SZ), and the emission-weighted temperature (T_X) has the smallest (sigma < ~0.5%). The very small scatter for T_X leads to Y_X and M_gas having virtually the same orientation biases. Substantial scatter is expected for individual clusters (up to sigma ~8%) in the correlation between Y_SZ and Y_X in comparison to the small mean bias (sigma < ~1%) applicable to a random sample of clusters of sufficient size. For ellipsoidal NFW models we show that the orientation bias for the total cluster mass attains a minimum near the radius r_2500 so that the spherically averaged mass computed at this radius is always within ~0.5% of the true value for any orientation. Finally, to facilitate the accounting for orientation bias in X-ray and SZ cluster studies, we provide cubic polynomial approximations to the mean orientation bias and 1-sigma scatter for each cluster observable as a function of axial ratio for the ellipsoidal NFW models.
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