Warning: Spoilers for Avengers: Age of Ultron ahead!
Except for Hawkeye, each of the Avengers experienced different hallucinations when their minds were tampered with by Scarlet Witch in Avengers: Age of Ultron. In Thor’s case, he experienced a vision of an apocalyptic future for Asgard. Although moviegoers saw Idris Elba as Heimdall in this vision, Tom Hiddleston’s Loki was cut due to time constraints. Fortunately, director Joss Whedon revealed what Loki would have been up to in the movie.
As with Heimdall, Loki would have appeared as a hallucination, rather than in person, in the hallowed halls of Asgard. The director told Empire Online that Loki would have had some fun at Thor’s expense in the second half of the vision, referencing his disguise as Odin. According to Whedon:
We even had a little reference to the fact that he’s taken the throne, which was Tom doing his Anthony Hopkins impression when Thor says, 'Oh, what would father say?' Then Tom does his Hopkins impression, and Thor’s like, 'That is uncanny!' It’s sort of like his subconscious is telling him that Loki was imitating his father. But he would never make that connection.
The last time Loki appeared in the MCU was in Thor: The Dark World. After faking his death at the hands of the Dark Elves, he sneaked back to Asgard and disguised himself as the All-Father to seize the throne. It remains unclear whether he has offed his adoptive father or simply has him stored away somewhere, but either way, the God of Mischief is now the unofficial king of the Asgardians, and no one has figured out this ruse yet since they believe him to be dead.
Loki will return to the MCU in 2017’s Thor: Ragnarok, when this apocalyptic force that Thor glimpsed again in the Water of Sights, finally hits Asgard. The only clue we have so far as to what this entails is the faux-Heimdall telling Thor that he has sent all the Asgardians to hell. While it’s possible Thor could inadvertently have something to do with the impending destruction, don’t be surprised if Loki also has a hand in initiating the event. Given his hatred of his adoptive people, it wouldn’t be surprising if he puts a plan into motion, either by himself or with a partner, that sees them all destroyed. Loki will also appear in the Avengers: Infinity War movies.
Avengers: Age of Ultron will be released on home media later this year, so hopefully this deleted scene will be included as one of the extras if only just to hear what Hiddleston’s in-character Anthony Hopkins impression sounds like.