Panel 1: Judging by the crucifix on the wall, the apparent image of Jesus above that, the praying angel on the dresser and what appears to be a Bible behind that, Moloch seems to have found religion during the intervening years since leaving his criminal life.
This religious imagery in the background also symbolizes the subject of Blake’s dialogue: Dr. Manhattan = God.
Panel 3: The Comedian: “You’re part of it, Moloch . . .” This foreshadows the reality that Moloch is indeed connected – though he is unaware of this – to the intricate plan that has been set in motion, of which, the Comedian’s murder was a part.
Panel 4: The Comedian’s mention of a list is important, including the fact that Janey Slater (Dr. Manhattan’s first “girlfriend”) is also on it.
Panel 5: The Comedian knows that the list is intended to indict Dr. Manhattan, and the thought of “God” being attacked in this manner and how he might react is overwhelming for Blake.