Panel 1: Back at the funeral, we are now going to see the Comedian from Dr. Manhattan’s point of view, and it is appropriate that we open with a shot looking down from on high, again symbolizing how Dr. Manhattan looms over everything in this world.
It is also worth noting that the only ones that have any color attributed to them – other than the minister’s red stole – are those that have some connection with masked adventurers – Blake’s coffin, Veidt, Manhattan, Dreiberg, and, with the distinct red roses, Moloch.
Panels 3-4: We have another of the “cinematic” transitions where Manhattan’s visage remains unchanged (other than his dress) and the roses being held by Moloch turn into the fireworks display in Vietnam.
Panel 5: Newspaper headline in the foreground reads: “[VIC]TORY! [Sa]ys Dick!” Unlike in our time, America wins in Vietnam thanks to Dr. Manhattan.