Here you go, Rhush. This is from the seminar that I gave last week on romance subgenres. Hope it helps!
Paranormal: The key element of a paranormal is LEGEND. Werewolves are legend, and so are vampires, pixies, fairies, doxies, living mummies, etc. A paranormal is PARA or "resembling or imitating" NORMAL "real life". Most vampire romances fit this category. There is a handed down legend or fable or "this really happened!" account of something outside the ordinary that we don't generally believe but aren't completely convinced COULDN'T happen. While it can be set in the future, the past or the present, the key is that everything ELSE is normal, except for the addition of this one element.
Light Paranormal - Light paranormal deals with creatures that are magical, and that have as their "legend" that they benefit mankind generally. Angels, fairies, Gods/Goddesses, spirits/ghosts, and the like. The storylines are generally that a superior being falls in love with a human or with each other and nobody gets hurt. Think of the movie "Ghost". That's a light paranormal.
Dark Paranormal - These are the creatures of legend that subsist on blood or flesh of humans or other creatures. Vampires, werewolves, doxies, unseelie fey (darker cousins of the fairies), leprechauns, etc. As their legends, they harm people to their own benefit. These storylines deal with the dark creature overcoming their dark nature to fall in love with a human or with each other. Think of the movie "Van Helsing". That's a dark paranormal.
I don't know that anything is really "hot" in paranormal. They all seem to be playing about the same at the different houses. One that hasn't been done very much, though, and I've seen mentions that people would like to see it back are historical "gothics" that are paranormal. The trick is that the reader is demanding more and more attention to detail in the historical aspects, which is why a lot of writers aren't getting published. History buffs are really picky and get a single element out of place and the publisher won't put their name on it. But that's all I really know of.