Place peppers in food processor and pulse until combined.
Add 1 cup vinegar and pulse until peppers are finely minced. Transfer to large saucepan, stirring in sugar, pomegranate juice and remaining vinegar.
Bring to boil and reduce heat to medium, boiling for 10 minutes. Remove from heat and stir in pectin.
Return to boil, stirring constantly. Once boiling, remove from heat and skim off foam.
Ladle hot mixture into seven hot half-pint jars, leaving ¼-inch headspace. Remove air bubbles and adjust headspace, if necessary, by adding hot mixture. Wipe rims. Center lids on jars; screw on bands until fingertip-tight.
Place jars into canner with simmering water, ensuring they are completely covered with water. Boil for 10 minutes. Remove jars and cool.