User blog comment:Rassilon of Old/Young Justice spoilers at Comic-Con 2012/@comment-4026406-20120820192647/@comment-4026406-20120820194611

And why couldn't that happen? Stranger things have happened in regards to the Light manipulating things to their advantage. It seriously does look like Red Volcano. You can't really deny that.

Another possibility is that this could be Black Manta's armor, just under the effects of the red light of the underwater beetle ship (which I think is the consensus everyone has reached) or it could be another Reach agent, other than Black Beetle. But it really does look like Red Volcano, but I guess that could be Phil Bourassa's style shining through.