Frankly I suspect that Avatar 2 is going the story of Quaritch arriving on Pandora and ending with the shooting at the school at sets him on the path of darkness that ends in Avatar. Grace is probably going to be the antagonist to Quaritchs protagonist status which in Hollywood logic automatically makes her the villain. If they are going for this, this might be a very good twist, having the archetypical hero do the wrong thing for the right reasons leading to disaster later on.
Of course this asks the questions of what about Jake and Neytiri. Cameron said that the sequals would be separate stories that feed into one giant narrative. This may mean that each film has its own cast of characters, with Avatar 4 being an avenger's style finale that ties it all together. If this is the case we may not see Jake and Neytiri again until 2023.
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