Good question, I'd like to know also. I haven't heard anything about Lobo, The Question, Or Wally West. I hope these characters aren't being left out. I vaguely remember them saying some characters won't be in the universe at all. I would hope none of the characters I mentioned are being left out. I dunno about him being a Red Lantern full time, I'd rather Lobo just be himself. I wish they'd give him a new mini-series or something. Maybe bring back Alan Grant/Keith Giffen/Simon Bisley for it. I don't think anyone else's work on Lobo has been that great. Especially the way they've been drawing him as of recently. *shudders* 
 
I believe Lobo was suppose to have an animated short, but WB/DC scraped the animated shorts thing, which fraggin' sucks. That would have been awesome to see. I hope one day we get a Lobo movie, animated or live action. (Kevin Durand would be the best pick for Lobo, IMO.)  I do hope they address some of these characters shortly, though.