So, New Mutants Special Edition #1 and X-Men Annual #9 - which together consist of over 100 pages of comics - gave me my answer, and I feel better for having read them, in much the same way as I have a fuller understanding of Magik from reading Magik: Storm and Illyana.
There's too much plot to summarise sensibly, especially as the nine New Mutants are spread throughout the Nine Worlds (although seemingly not one per world - I think they missed a trick there). Consequences that matter are: Dani is a Valkyrie, with a pegasus, but doesn't understand the full implications of that yet. Karma loses weight. Rahne makes a friend, in Hrimhari, a more mythological wolf shapeshifter. And Rachel Summers new identity of "Phoenix" becomes known to the group, although she still hasn't told Scott who she is yet. He thinks it's a bit tasteless, which is a fair point. And Loki's plan, to make Storm a new thunder goddess and take control of Asgard, fails, as it must.