I found this design very interesting. The art looks like a blend of Frank Quitely (from his New X-Men Days) and Gary Frank (from Superman and The Legion of Super Heroes) - not that I like Quitely, but this piece is pretty awesome.
Yes, I imagine if Grant Morrison had selected Polaris to be a regular cast member of his team, this look would have fit quite well. I love the artist's depiction of her here with the darker look matching her post-Genosha mindset.
Great art, I always wondered what would have happened if Austen and Morrison shared the character and Morrison wrote her for more then one issue.