This paper contains the second part of a study on a smart panel with five decentralized velocity feedback control units using proof mass electrodynamic actuators [Gonzalez Diaz et al., J. Acoust. Soc. Am. 124, 886 (2008)]. The implementation of five decentralized control loops is analyzed, both theoretically and experimentally. The stability properties of the five decentralized control units have been assessed with the generalized Nyquist criterion by plotting the loci of the eigenvalues of the fully populated matrix of frequency response functions between the five error signals and five input signals to the amplifiers driving the actuators. The control performance properties have been assessed in terms of the spatially averaged response of the panel measured with a scanning laser vibrometer and the total sound power radiated measured in an anechoic room. The two analyses have shown that reductions of up to 10 dB in both vibration response and sound radiation are measured at low audio frequencies, below about 250 Hz.