Had a SLAP II repair 5 months ago. Still having pain so got another MRI. Of course my OS won't call me with results but he is on vacation. I got the report and I understood most of it except the part about the suspicious contrast material. Any one have a clue?

it means that there is a possibility of a new tear next to the anchor.
I will rehab it. Don't go for another surgery. 5 months is still too early. Wait until the 7-9 month to make a final judgment.
If the MRI was done with contrast and there is still questions, just wait.
I am also 4 1/2 month post extensive labral repair. I am still no pain free on movements above head. It takes up to a year to be pain free. I will wait.

I just have the report. Would the DR be more qualified to determin if there is a new tear or the radiologist reading MRI and giving report? Basically how is DR going to know if it is a new tear?

The radiologist writes a report of what he sees on an immperfect image recreated thru electromagnetic, secondary methodology (not a direct image). He knows nothing else.

Your surgeon makes decisions based from his verbal history from you, his physical examination of you, his reading of and personal interpretation of the MRI/MRA and his visualization and experience with your surgery, outcome and now, current complaints. Who do YOU think is better versed to evaluate your situation?

I would think a suregon, but my previous ortho never looked at my MRI, just read the report.

Maybe.....but it is more likely that the reviewed absent of your presence.