The truth is that Arnold himself bought the entire rights to this movie. If you remember, at the end of the original movie, Arnold was on a couch smoking a joint. He bought the rights to the movie so this could be taken out.........not a good scene for his image as a spokesperson for the " say no to drugs " program.
If you can find an old unedited version, it will be worth a few bucks to someone. I don`t know if it has been edited and re-released, or if he has it on hold.