People bringing up Alan Scott makes me realize something. In the New52 verse, there must be no Jade or Obsidian, also. This means that huge portions of Kyle Rayner's backstory are all gone, now.
That's my biggest problem with the reboot thus far missing characters, I'm still waiting for Metamopho and Dr. Fate to show up.
If Alan Scot does turn out to be gay the biggest threat to Jade and Obsidian being his kids is his young age not his orientation, he could either adopt or have in vetro done if they wanted his kids to be biological. I wonder what the bigots would say to that?
The only problem I have with it being Alan is that I don't think of a parallel universe version of a Green Lantern or any Lantern to be iconic outside of comic readers.