This volume collects issues #7-13 of the current Green Lantern comic helmed by Geoff Johns, and is the second book in the series following Green Lantern (Book 1): No Fear (or third, if you slot in the mini-series Green Lantern: Rebirth as the one that re-started it all). Featured artists include Ivan Reis, Ethan Van Sciver and Carlos Pacheco.
As stated in the title, I found this volume to be a great starting point for getting into the current Green Lantern mythos. I had grabbed this on a whim one night off the magazine rack at a video rental store, and was sorely impressed by the material despite not knowing much prior Green Lantern history. This is one of Geoff Johns' strengths as a writer - despite references to heavy continuity, such as Hal Jordan's turn to evil in the 90's Green Lantern: Emerald Twilight & A New Dawn story line, Johns is able to boil history down to its essentials, encapsulate it for the reader, and move on. Where others use simple editors notes (ie. "See Green Lantern Vol. 3 #50) or lengthy dialogue recaps, here quick flashback panels built into the narrative illustrate history by the easiest way to understand it - visually. In other instances, history isn't explained because it's not important to the story - the Black Mercy Plant made famous by the Superman tale "For the Man Who Has Everything" reappears here to great use, but you lose nothing if you've never read the original classic (collected in DC Universe: The Stories of Alan Moore and other places). Similarly, the Black Mercy is only here because villain Mongul stole it in the first chapter of Infinite Crisis, but again that's a tangent that doesn't apply to the story being told.
And yes, "Revenge of the Green Lanterns" arguably works better than "Rebirth" and "No Fear" as a gateway book, mostly because it eliminates the requisite continuity knowledge of the former and raises the stakes much, much higher than the latter. The first two chapters feature the classic Green Lantern/Green Arrow team facing Mongul and the Black Mercy, followed by a revealing and often humorous character study as Green Lantern teams up with Batman and mends fences with him. The book then skips ahead One Year Later (a jump followed by all DC titles during that period) with the mission to rescue a group of lost lanterns and confront one of Green Lantern's great enemies. The artwork by Ivan Reis here is especially impressive and beautifully inked and coloured - a precursor to the epic pages of Green Lantern: The Sinestro Corps War, Vol. 1 down the line.
If you haven't gotten into one of the best superhero titles on the market, this volume is an easy and highly recommended place to start. And it only gets better from here.