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Glowing obsidian will appear when the Nether reactor core is activated. All the materials that are used to activate the reactor (14 cobblestone blocks and 4 gold blocks) will convert into glowing obsidian when the reactor is activated. The glowing obsidian appeared to be a red obsidian that glows. Once the reactor has "burned out" the glowing obsidian will then turn into regular obsidian which can then be collected with a diamond pickaxe. If it is mined while the reactor is activated, it will still drop regular obsidian. Glowing obsidian can currently only be obtained through editors, such as MCEdit.