User blog comment:Maki Kuronami/Lesson 27: Screw everything, have a Samurai!/@comment-3257939-20141024031014/@comment-24891101-20141024031859

I'm still firmly on Vermillion = Raven, because of the asymmetrical skirt, the bird motif which ties in both to Qrow and the Transient Princess, the red eyes, and saving Yang and Yang catching a glimpse of her. Parsimony demands that this be the case. With all of that, I think the necklaces are a minor detail.

As to watching over Yang and not showing up in the woods, that's clearly because it was Qrow's turn to look out after them. She can't be on watch all the time.

As to Neo being scared, Vermillion is also a high-ranking member of the White Fang, and Neo knew she was outclassed, and was caught out of position.

Maki: Yeah, I'd say you're crazy. 'Twould mean she took up with either Torchwick or his kin, if we accept the relative theory.