The idea of coupling a short list of super villains with several mini-adventures, combining aspects of the many V&V supplements that have come before, was a good one. Unfortunately, "Menagerie" doesn't quite do the idea justice. The majority of the villains are all min-maxed to be high-Agility/high-initiative and high hit point powerhouses with a decidedly large number wielding Power Blast attacks.
As for the mini-Adventures, the first of the selection, "This Nut's Not Sweet," is the closest thing to an interesting, balanced encounter in the book, It's amusement value is the main reason for the second star in the rating. "The God of the Lost Valley" and the mini-campaign "World Under Siege" are nothing to write home about, but there are some more-balanced villains in the two adventures than in the first half of the supplement which could make interesting adversaries for player characters.
The art is not bad, though it doesn't quite measure up to many previous V&V supplements. The maps are nice, as is the quick-view table for Illusions B solid energy constructs, though that same table can be found in the superior (if not brilliant) "Always Outnumbered."
Overall, it's only four bucks, so it's not a huge waste of money, but the content is inferior to a lot of what has come out for V&V lately, and at a similar price point.