[Crazy Jetty]

I have a theory (And this is not based on the most recent episode. Have to wait until money at earliest to watch, due to Botcon), that Razor is Destined to become a Blue Lantern.

Saint Walker has taken a liking to him. Granted, Walker sees good in everyone, but we already know that Razor has a noble heart, and Walker does too.
We were shown in the last episode exactly how badly Razor hates being a red lantern. And how graciously he took Aia's new Oath, and fibbed about it so she wouldn't feel badly.
Also, we know that a Blue Lantern ring is one of the very few things that can restore a Red Lantern.

I think by the end of the season, Razor is going to become a Blue Lantern.