This passage occurs in both the Revised Common Lectionary Year B and the Narrative Lectionary Year B. See note below on its potential as a Reformation day passage. (Most recently Feb 21, 2016).
I prefer the Mark 10:46-52 text for Reformation Day than the John 8 text (here is my commentary on this passage). You have a man crying out for mercy (Luther's search); a religious crowd opposed to him (sinful self and world); a display of Jesus compassion; Jesus' Word giving life; Proclamation that faith saves; lastly, new life in following Christ.
Salvation, even new creation, by faith alone
The mercy of Christ
The sinfulness of the world, even in religious matters
The redeeming Word
Or John 8, with landmines of antisemitism. You make the call...
οδος ("road" or "way", from οδος, vs. 46) This word has layers of meanings. It is one of those words that can simply mean "path for travel" but more abstractly "way"." Early Christians were called followers of "The Way." In Mark 8, 9, and 10, Jesus has been on the way. This journey in Mark is about spiritual blindness and sight. It begins with the disciples blind to Jesus power; it ends with blind Bartimeaus receiving sight. It points toward the reality that any talk about spiritual journey without struggle, sin and setback is nonsense.
Βαρτιμαιος ("Son of honor", 46) We don't know many names of those cured by Jesus, but this one has a name -- Son of honor. In this case, the son of honor is banished by the crowd, mocked and insulted. Perhaps this is foreshadowing of Jesus, the true son of Honor, being mocked by the crowd. Furthermore, it is ironic that James and John, the sons of Zebedee, ask for power and get the cross. This man calls out for mercy and gets resurrection.
ελεησον ("mercy", from ελεεω, 48) A key feature of Martin Luther's journey was the search for mercy. Is this what people hunger for today? It certainly is what Christ has come to bring.
στας ("stand", 49) For the first and only time in Mark's Gospel, Jesus stands still. He takes a pause from the journey on the road to have compassion on this man. The story pivots on Jesus' action here (you could even do a need chaistic structure within the story with this as the fulcrum). It is worth remembering about this story and really the whole Reformation, that Jesus' love and compassion are at the center.
θαρσει ("take courage", 49) This word can also mean "be audacious." Christ is calling us to follow him, over and against the cries of the world.
εγειρε ("raise" or "resurrect", 49) Jesus has been proclaiming his eventual resurrection. Now the resurrection is happening -- the kingdom of God unfolding in our midst. What makes it possible? The voice of Jesus -- the word of God.
σεσωκεν ("save", from σωζω 52) This word refers to both "earthly" salvation as well as heavenly. Explosive term. It can meal heal, but also save. But basic point here: It is not simply about the afterlife.