Hal Jordan is still a jerk. He jumps out of the conflict with the Black Lantern JLA and heads out with Indigo-1 to get a Star Sapphire to join up with the rainbow army. I suppose he didn't have a choice, but you know Hal was down to head into space with some pretty ladies. After all, it doesn't take him long to start making comments about how good Carol Ferris looks in her Star Sapphire uniform. Indigo, Hal, Carol, and Sinestro end up ditching the Sapphire homeworld after the Black Lanterns free the Predator, the creature powering the pink battery powering the planet. The mysterious lovers who inspired the Sapphires are resurrected as Black Lanterns too; they are revealed as Khufu and Chay-ara, the original bodies of Hawkman and Hawkgirl. I bet this is going to get confusing, isn't it? This means there are at least 2 versions of Hawkman currently in the Black Lantern corps, with more possible.
Sinestro takes on Mongul and while Mongul does put a real hurting on Sinestro, pinkie pulls out the win by establishing control over Mongul's many rings. I really liked that Sinestro didn't kill Mongul, since he didn't want him raised as a Black Lantern. He calmly tells Mongul that after the Blackest Night, he'll kill Mongul. It is interesting seeing the rainbow coalition forming up, especially since Sinestro demands that he's in charge. I kind of like this development of Sinestro and Abin Sur's backstory too, giving Abin a sister does add to the mythos nicely.
Doug Mahnke's art is fantastic as always. The Black Lanterns look horrific. And Hal was right; Carol does look good in purple. Mahnke's art doesn't clarify what those weird staffs are that the Indigo Lanterns are holding, but they do seem to be on-model.