I can't stand the DC vs MK suit. It's got armor in all the wrong places in all the wrong ways.
Also, maybe it's just personal interpretation, but I don't see armor anywhere in the concept art

I just see some seam lines that contour to his muscles. I think you'd be able to tell a little more obviously if it was armor.
As for what I'd like to see, I would like a superman returns type material for the black part. For the green part, I'd want that to almost look like parts of the black suit were being illuminated. Like when he suited up, parts of the suit would blink to life like a neon light. It wouldn't be too blindingly bright, but it would glow. Enough to give him a slight aura. Not too bright to drown out the pure white light from his symbol.
Another idea I had was that his suit as a projection and extension of his ring would be responsive to him. Let's say for example, that the green illuminated areas on his suit were laid out similarly to either of the Nolan batsuits, just for a working visual example. Perhaps not as busy as TDK. At least the chest area of the BB suit.
Suppose GL is fighting someone/thing. Sinestro, whoever. During the fight, he is hit in such a way that it breaks something, maybe a rib or an arm. Well, the illuminated part over that area would slide around over it and point out exactly what had happened. If it was a rib, the appropriate rib armor plate would shift around to graphically point it out to Hal and the ring would tell him what injury he has sustained, then it would take the appropriate measures to rectify the injury for the duration of the fight, like sending more energy to that area to "pad" it up a little more.
Also, maybe Hal needs to hit something especially hard with his fist. It'd be cool to see the light energy actually travel from the symbol along seam lines or other illuminated plates to his fist, where the "hard light" would encase his lower arm and strengthen the area for the appropriate level of smack down and pwn.
I feel inspired to sketch this out...