Panel 1: It's sometime after yesterday's strip and we're outside the school. Deanna comes up to Mike and asks him if he's waiting for someone. He says "No".
Panel 2: She points out that Lawrence said he was going to pound the crap out of him. Mike says he doesn't want to talk about it. She says that Lawrence was going to pound him like cheap veal over her.
Panel 3: Mike angrily states that it'd be stupid for him to get creamed over a girl.
Panel 4: Deanna runs off in either anger (because she's been told she's not worth losing teeth over) or panic (that Mike is actually talking like a real six-year-old).
Panel 5: Mike thought-bubbles about being soooooooooo stupid.
Summary: This is a far inferior version of the original; Mike shouldn't be worried that he offended his Twoo Wuv, he should be worried that she's gonna rat him out to Teacher. (That, or Lawrence is never going to show up.)
ETA: It seems that Lynn got tired of the old banner; she's replaced it with John and Elly having some winter fun.