1. The axioms of PA_2 are recursively enumerable. 2. The full semantics of PA_2 are what cause categoricity.
It seems to me then that the crux of the matter is that the full semantics of PA_2 prevent there being an effective deductive system. I think Z_2 is constructed to get around the non effectiveness of the full semantics of PA_2 and is a weaker theory.
Anyway, thanks for the enlightenment.