Left 4 Dead 2 is certainly one of the of the games with the most butchering and blood splattering around available, making games like Soldier of Fortune: Payback look like a child's birthday party. It was therefore known well before the release date that there would be a censored version in Germany, as is the case quite often. However, the game also had problems in Australia, where the rating agency did not agree to give it the MA 15+ label, which was for a long time the highest rating available Down Under. Valve eventually only created one censored version, the German and the Australian Version are censored identically.
Dissolving corpses and missing splatter effects certainly lower the fun players will have with this version, it is therefore strongly advised to get the uncensored version for a thrilling zombie hunt.