Analysis. Basically Rice says that Comey had concerns about Flynn (as incoming National Security Advisor) speaking frequently to the Russian ambassador; not that classified information was being passed but that "the level of communication was unusual". There's some back and forth between Comey and Obama about whether they should hide information from Flynn.
The previously redacted portion is basically portraying all of this information about Flynn and the suggestions for how to deal with him as coming from Comey. I believe this to be defensively self-serving and untrustworthy.
UPDATE: I have an additional take here, upon reflection. It involves exactly what information the outgoing Obama admin is trying to hide from the incoming Trump administration. It's clearly not just generic sensitive information related to Russia. Such a policy would be impossible to enforce and would raise huge questions immediately. So it's not that. It's something specific.
It's the counterintelligence investigation into Flynn and Trump specifically. In other words -- the cover up.
