IOROOT22 worked fine for me man, I never rooted till after i took the 12b update. Pretty sure it was IOROOT15 were they started throwing in the loki support in order to ease the root process on the G2. As far as recovery goes i downloaded freegee and used it to install TWRP 126.96.36.199 and that worked fine as well. FreeGee also offers CWM and Philz so you can pick your poison. If it doesn't work and the phone bricks or boot loops these two threads will save you life, well maybe not your life but your phone.
SDK ADB how to:
Flash Stock Verizon Firmware:
read the second carefully, maybe a couple times if you need to use it. easy to miss a step in the panic to fix your phone. At least it was for me. Took me a couple times of cursing, rereading, then realized i had missed a step.