All Star Superman

This is my first experience reading a Superman comic book. I am confused about what goes on in this story, I feel like maybe I missed something. I know it is volume one, but it seems to me that there is a lot of information discussed that I know nothing of and should... I understand the major plot, so perhaps that is good enough. Also, maybe if I were to read on things would reveal themselves in a more comprehensible manner.
That said, I was not as engaged with this comic as I have been with past comics. This comic jumps right into a very complicated storyline without giving time to introducing the characters and relationships. So, it is hard to know who is good and bad, who to trust or suspect, and so on. Despite that, the drawings were okay. I do not like computer-colored books as much, I felt this way about We3 too. There is something more organic about a comic that is all illustrated; with these comics that have digital components it seems almost like it should be animated, or would be more complete if it were animated. There is something odd about the jagged pen lines and the ultra-smooth coloring and gradients.
Lois Lane is depicted in an interesting way. She seems to be Latino in this comic...? Which, I appreciate and think is an artistic choice, but I had the impression prior to reading this that Lois was a good, clean, American girl. The Lois in this book has a sassier side to her that kind of annoys me, actually. Perhaps my prior impression is totally fabricated though... as I said, I have little experience with Superman.
I like the rainbow coat, it reminds me of the story of Joseph and the Amazing Technicolor dream coat--was this an intentional allusion?
I do not understand who Jimmy Olsen is either, especially the last panel on page 83, what is going on?!
I feel the same way about the panel on page 127 where "Nasty" tells :Ex to fix his eyebrow? What is the deal with these strange, seemingly sexual peculiarities?