If you have .kpl playlists created with KaraFun Player V1, you can import them in KaraFun Player V2 quite easily.
Simply drag & drop the .kpl file on the main window of KaraFun Player V2, and a new playlist will be created with your previous karaoke songs listed.
Special note: you need to keep the files in the exact same location for this to work. If you have moved the file at some point, KaraFun Player won't be able to find the tracks in your playlist.