Let G be a locally compact group, let Ω ∶ × → ℂ * be a 2-cocycle, and let (Φ, Ψ) be a complementary pair of strictly increasing continuous Young functions. We continue our investigation in [14] of the algebraic properties of the Orlicz space Φ ( ) with respect to the twisted convolution ⊛ coming from Ω. We show that the twisted Orlicz algebra ( Φ ( ), ⊛ ) posses a bounded approximate identity if and only if it is unital if and only if is discrete. On the other hand, under suitable condition on Ω, ( Φ ( ), ⊛ )becomes an Arens regular, dual Banach algebra. We also look into certain cohomological properties of ( Φ ( ), ⊛ ), namely amenability and Connesamenability, and show that they rarely happen. We apply our methods to compactly generated group of polynomial growth and demonstrate that our results could be applied to variety of cases.