As this episode is a continuation of the previous episode there is a brief recap recounting the previous episode: Balder is a good god but is fated to die and Loki plotted to have Hercules kill Balder and also defeat Thor accomplishing two of three prophesies required to bring about Ragnarok.
This episode actually continues having Loki forging a visor - meanwhile, back in Asgard Hercules tells Odin of Loki's treachery and the third prophesy hailing Ragnarok is said to actually be a riddle: "When the light dies then will Ragnarok begin."
Hercules frees Thor from Odin's exile after Thor's defeat and urges him to help him avert Ragnarok and fight for Balder dream of protecting and helping humanity then fruitlessly appeals to the Norn for help deciphering the riddle. Meanwhile the Norn approches Odin and hands him the visor Loki had forged earlier telling him it will help him see the future, but the shapeshifting Loki reverts from the visage of the Norn to his normal self as Odin places the visor over his eyes and screams in pain and anguish as he is blinded. This obviously fulfills the riddle and third prophesy, and Loki gloats before returning to the caves of ice where he has hidden Heimdall's horn which will summon Ragnarok and destroy Asgard.
Hercules now again must more desperately appeal to Thor, so he appeals without words but uses a blow, knocking him out, so Hercules can take Thor back to the village where the people Thor has vowed to protect are in despair and feel abandoned by the gods. But upon hearing Gjallarhorn, they realize they must race off to Asgard yet instead Hercules takes them to where the two last battled. Retrieving Thor's hammer would allow them to teleport there instantaneously, but before using the hammer, Loki appears and presents them with another page from the book of fates, and from that they have to decide either continue on to save Asgard or to go back and save the villagers who are in danger too. With two choices, Thor chooses to send Hercules to Asgard, while he must race back to the village to save the vikings he vowed to protect.
In Asgard, Hercules finds the gods frozen or freezing and unable to do anything Odin uses his last power to transport Hercules back to the village where Hercules finds Thor also dying from another of Loki's poisoned darts. Hercules must appeal again to the Norn for help but she continues her mantra of she only draws what she sees... from this, Hercules finally realizes she only sees what has happened or is happening and ponders on the pages that foretold events to come and so returns to Asgard where Loki is in his icy thrown relishing in his accomplishments. After confronting Loki with some ink in hand and threatening to paint Loki's future, Loki manages to spill Hercules ink and rushes off to the cavern where he had his own Ink with which Loki had used to previously create his own fates. But Hercules followed Loki and lets him know that he never had any Ink after appropriating the real Norn Ink Loki had been using.
After a battle and Loki's defeat, Hercules takes the Norn Ink and uses it to wash out the previous pages of Balder's death, transporting himself back in time to the point when the young girl is presenting him with the poisoned dart to throw at Balder... This time Hercules takes the dart but before using it, he announces this was a plot by Loki to kill Balder so Balder is saved and continues to live while Loki runs off.
Hercules also knowing where Loki has hidden the Ink, retrieves it, and so Loki's complete plot is foiled in this new fate. Balder lives and Thor is known to have some potential beyond his rash rage, unknown to all except Hercules who was on hand to see Thor martyr himself in the previous line of fate. Good deeds done, Hercules sets sail back to Eire... and a new adventure (next episode).