AND WAIT, THERE'S MORE: Chain Reaction, a local space-funk fave, which made a disappointing debut on Elektra Records earlier this year, has left the label. The band is now in the studio with ex-War honcho Jerry Goldstein (no relation) at the production helm. . . . The Meat Puppets, in town for a show Friday at the Music Machine, will appear Thursday at 10 p.m. on "SNAP," Deidre O'Donoghue's alternative pop program on KCRW-FM. The band, whose albums are perennial faves in many year-end Top 10 polls, will play live for an hour, then serve as guest deejays for the second half of the show. . . . Who's the visiting guitar player on Lionel Richie's new album, "Say You, Say Me," whose release is now scheduled for later this month? None other than Eric Clapton, who sits in on a track called "Tonight Will Be Alright." . . . And the new Starship video, "Sara," which debuted last week, co-stars actress Rebecca De Mornay along with the rest of the Starship ensemble.