From my experience, you won't get any trouble from the police if you don't make trouble for yourself. I EDC mostly folders clipped in my pocket but the occasional fixed blade on my hip as well. I'm only 19 years old, but I haven't had any problems carrying these in public.
The NJ knife laws aren't specific with blade lengths unless you're younger than 16 years old (I think). The 2 inch blade shouldn't be a problem, and if you are ever stopped, just make sure you call the Leatherman a tool, not a knife or weapon. Explain that you use it at work and such, and you'll be fine.