I'm not 100% sure where this issue fits in regarding to continuity since I haven't been picking up every AvsX book. Anyway
Of the Blue team - Cyclops, Emma and Magik come to the JGG school. Cyclops is just wanting to talk.
As a result of this a lot of this issue is Scotty and Logan talking. Your milage may vary as to whether this is the sort of thing you want to read about in a comic. To break it up slightly, Kid Krakatoa does partially digest Scott. But Scott escapes (boo) and then the talking commences.
Other main plot threads are the continual development of Angel and Evan and a discussion between Rachel and Iceman. This leads into a bit where some of the teaches choose to go assist Cyclops rather than Wolverine - but just as a temporary measure - they'll apparently be back to the Gold side when AvsX is over. This was the bit that confuses the continuity for me. But I didn't really mind because I don't really rate continuity much anyways.
Cameo wise - Anole gets a line. A student has a hair slide (Trance?) CHAMBER gets several lines. Quire hits on Magik. Husk is also present.
GAMBIT SLAMS THE AVENGERS AS ANTI SOUTHERN RACISTS. Good job Gambit.
Best cameo - the last page. My fave Bachelo baddies return.
Art is banging obviously