It's a computer modeling/rendering package called Lightwave 3D. It's sold by Newtek. It's used by some Hollywood productions and has been part of some classic sci-fi like Babylon 5 and Star Trek TNG. I believe it is the most affordable of the professional software packages that are publicly available.
Most of the power rings have the symbol located inside a circle. However, we have seen some green rings where they are actually shaped like a lantern. So it is possible some Red Lanterns would have a more detailed ring.
And I agree the finger bends in the other direction. I think when I made the comment I was thinking it would hurt when you punched someone.