In the latest Smallville spoiler for season 8 episode 19 titled Stiletto, there are a few things that happen here. The first is the fact that Lois (played by Erica Durance) dresses up as a superhero named “Stiletto” because she feels she needs a big story to live up to the hype of her star reporter reputation. She does this so she can find out more from the blue and red blur superhero saving people but of course, it eludes her.
Of course, while she is trying to crack that story, she ends up saving Chloe from a mugger and then she gets to use her own “Stiletto” story for her own personal writing. Clark finds out Lois’ identity and is concerned that she will get hurt.
Clark is then captured by some thugs using kryptonite and Lois saves him. Though, I don’t think “Stiletto” is going to last too long.