  Some time ago it was conjectured that the coefficients of an expansion of the
Jones polynomial in terms of the cosmological constant could provide an
infinite string of knot invariants that are solutions of the vacuum Hamiltonian
constraint of quantum gravity in the loop representation. Here we discuss the
status of this conjecture at third order in the cosmological constant. The
calculation is performed in the extended loop representation, a generalization
of the loop representation. It is shown that the the Hamiltonian does not
annihilate the third coefficient of the Jones polynomal ($J_3$) for general
extended loops. For ordinary loops the result acquires an interesting
geometrical meaning and new possibilities appear for $J_3$ to represent a
quantum state of gravity.
