[ksa]

var next = ((current.next().length) ? ((current.next().hasClass('show')) ? $('.rotator ul li:first') :current.next()) : $('.rotator ul li:first'));

Аналог

var next = (function(){
	if (current.next().length){
		if (!current.next().hasClass('show')) {
			return current.next();
		};						 
	};
	return $('.rotator ul li:first');
})();