Johns is going with the "Dark Pheonix" solution for Hal Jordan. It isn't exactly satisfying. In fact, it's a bit crappy, to be blunt. But, given the awful "character developments" he must undo, I don't see that he has any other options. His job isn't one I envy.
I'll beg to differ with Franklin. I found the Parallex thing to be a very good solution to the problem. Bringing a character back from the dead, who was a former hero turned villain for a time is tricky. I though Johns managed to get out of the hole DC dug for themselves. I also have to say I'm pretty pleased with how Kyle has been treated in this mini, many thought he would be cannon-fodder but so far he's been a lynch-pin. Pretty good series so far in my book.
I don't know. I don't know much about Dark Phoenix, so I can't compare the plotlines. I know that quite a few GL fans speculated that Parallax couldn't be Hal, and was probably Power Ring or something else. So this seems to fit into the speculation, to me, at least.