Well Im quoting the IMDB alternate versions page here for TS:
"Reportedly, Halloran's death scene as filmed is not the one we
actually see. The one filmed depicts a much longer, much more graphic
death. In its entirety, the scene lasts almost seventy seconds, and is
full of gore. Rather then just run up and hit him as seen in the
released version, Jack instead runs up, hits him in the back of the
head. Halloran screams. Jack pulls the ax back, and then slams the
spike on the back of the ax into the base of Halloran's spine. Halloran
screams and recoils, and then Jack slams the ax into his back and he
falls down. Halloran rolls onto his back and is looking up, and Jack
starts to beat him with the ax before he "hears" something and leaves
(Halloran rolling onto his back before Jack beat him is why in the
uncut version we see Halloran on his back with blood when Wendy finds
him, rather then on his face like we see him fall)."
This fits in with what I read about the Japanese disc but of course it
may be utter nonsense and just some wishful speculation from whoever
wrote about it (wish I could remember the jap. disc site).
Regarding the running time differences, Japanese laserdiscs are NTSC
and as far I know laserdiscs werent compressed in transfer. But yes
running times on home video formats are always a questionable affair.
The IMDB goes on to say: "According to someone, there were some prints
of the film containing a longer sequence in which Halloran is killed,
but in fact the only version of this scene still exisitng is the one
contained in the Usa/Canada version, and in the 115 version." So it
probably doesnt exist but I would still pick up a copy of the Jap. disc
if I ever see one...