At the end of Sleepaway Camp 2, Molly is startled by Angela in the truck and screams. The end. This lead to many viewers asking if she was definitely killed, what happpened etc.
The bodycount figure given in Sleepaway Camp 3 confirms Molly’s demise, as does Angela speaking to Marcia about Molly in the past tense.
There’s room for ambiguity if the character was needed to come back however, and was in fact present as a cameo in the unfilmed Berserk script.
Did you know Molly was originally intended to die on-screen in Sleepaway Camp 2? When she falls off the ledge, she was supposed to be impaled on a wooden fence at the bottom. It was changed so she fell onto a rock and later woke up, leading to the truck ending we saw.
Here is her death scene from the first draft as written by Fritz Gordon: