Big action on a 1-suited flop

[Toonces]

$20/$40 game at Resorts, East Chicago

MP2 is semi-loose and average aggresion. CO is a solid twenty-something player.

Hero has J [img]/images/graemlins/spade.gif[/img] J [img]/images/graemlins/diamond.gif[/img] on the button.

3 folds MP2 calls. 1 folds. CO calls. Hero raises. SB folds. BB calls. MP2 calls. CO calls.

Flop (8.5 SB): Q [img]/images/graemlins/heart.gif[/img] J [img]/images/graemlins/heart.gif[/img] 7 [img]/images/graemlins/heart.gif[/img]

BB checks. MP2 checks. CO checks. Hero bets. BB calls. MP2 raises. CO calls. Hero 3-bets. BB folds. MP2 calls. CO calls.

Turn: (9.25 BB) 6 [img]/images/graemlins/club.gif[/img]

MP2 checks. CO checks. Hero bets. MP2 calls. CO raises. Hero calls. MP2 calls.

River: (15.25 BB) 3 [img]/images/graemlins/diamond.gif[/img]
MP2 checks. CO bets. Hero folds. MP2 folds.

What do you think? Good flop 3-bet? Bad fold on river?