Let me get this out of the way first- I hate Mojo. He's the most obnoxious character created in the X-men universe, and he's got a stupid m.o.
That said, he's handled well in this episode- they got the character just right, even down to his annoying glee. Not as well conveyed is the sense of the Reality TV show he's trying to put together. He craves for his gladiators to fight to the death, and we get that with an immensely freaky looking Wolverine (how he got there is never explained) but I didn't get the feeling like there was an audience for the spectacle. Where was the cheering bloodthirsty crowd? In anycase, what makes this episode work is Nightcrawler through and through. He's easily the best developed, and most interesting character on this series, and that's a shame considering it's called Wolverine. Watching him and the Scarlet Witch work together was interesting and entertaining. In this episode, both characters finally come to terms with where their loyalties lie.