Human Target/WMG

Katherine is still alive.
No body, no death. We have no proof that she was on the boat that blew up, plus the previous Christopher Chance said never to let the girl out of his sight. Then, after the explosion he shows up just long enough to get killed. The older Christopher Chance must have saved her, but died before he could tell the new one.

Katherine is still alive... and behind everything!
She faked her death to throw Chance off the trail.

Guerrero is Rorschach.
During the last moments in Watchmen. Doctor Manhattan turned poor Rorschach into so much goo. Left this Plain of Reality and wondered the stars. Eventually he discovered the Bleed, and wandered the multiverse until he got to one reality he could not fully enter. A reality where heroes did not exist. Where a Earth existed, not perfect but compared to his own one sane and balanced. Reaching into the past Doctor Manhattan teleported Rorschach from his time of death. In the microseconds substituting a version of Rorschach from a parallel reality. A real twisted madman who was blown into meaty chunks. Using his Godplus powers he turned Rorschach into a baby and left him at on orphanage. Adopted into a family Rorschach \ Guerrero ended up having in instinct for physical violence, and retained his cunning and intelligence. Ironically ending up a criminal then like his original self an anti-hero. More laid back, less tragic and a lot more funny. For the life of him can't read anything from Alan Moore before he gets  Uncomfortable.

We're going to find out more about Guerrero's past life in a later episode.
We don't know much so far...he was a former Boy Scout, used to work with (or under) "Junior", and he has a young child (since Baptiste didn't know he'd become a "family man", the kid was born presumably after leaving the "business"). This Troper has a feeling he has a daughter: Guerrero spares a thug in the first episode so he can "spend a few more days with Marla and the girls", the blonde lawyer was Whitey Doyle's daughter, the French diplomat had two daughters...it fits the trend. Jackie Earle Haley also has a daughter (Oddly enough, Haley also has a son named...wait for it...Christopher.).

Guerrero, like "Christopher Chance", is most likely a cover, not his birth name or last name.

He doesn't seem like a married man, so it's either very private (Chance and Winston probably don't know about it) or s/he's adopted.
 * Alternatively (and probably more tropperiffic), the daughter was born when he was under an identity or what not and she doesn't know about him. But she's his daughter, so he watches over her even if she doesn't know. And if she does know, she probably only knows him as a dead beat dad who left when she was young.
 * Oooh... what if Ames is his daughter? Just to put a little Squick in her obvious crush on him.
 * Given what we know about Guerrero, he's not likely to seriously threaten someone he feels loyal to (which he has done to Ames). Though given what we know about Guerrero, he may not feel any particular inherent loyalty to family.
 * Apparently he's got a girl in Osaka that really screws with him emotionally.

They're going to screw it up... They're going to screw it up... They're going to screw it up...
Tuppence says that they'll change the music, or change the cast or change something, and the entire Crazy Awesome world of Human Target simply won't work any more. Let us pray that this horrible potential future doesn't come to pass.
 * Sadly confirmed. Let us have a moment of silence for Human Target. It truly died with its first season.

Chance and Ilsa are actually attracted to each other.
Like you can't see the tension between them!

Ilsa isn't actually attracted to Chance.

 * It's all just a case of Bodyguard Crush.

Chance isn't actually attracted to Ilsa.

 * It's all just a case of Bodyguard Crush.

Both of them aren't actually attracted to each other.

 * They're just being clingy and co-dependent due to their personal issues.

Both of them are actually attracted to each other but only because they just remind each other of someone else (Marshall and Katherine respectively).

 * Did we mention they have issues?

Pucci will return to her home planet

 * Sadly, her spaceship will explode on the journey home.