Preheat oven to 425℉. Trim lamb rack of excess fat and clean off bones if needed. Season lamb on all sides with salt and pepper. Over high heat, heat canola oil in a pan large enough to fit the lamb rack. Brown lamb rack on all sides. Remove from pan and place meat side up on a baking sheet lined with foil.
In a small bowl whisk together Dijon mustard, mayonnaise, garlic, 2 tsp olive oil and herbs de provence. Smear onto all sides of lamb giving the upper meat side the most attention.
In another small bowl stir together panko bread crumbs, remaining 2 tsp olive oil and 1/8 tsp of both salt and freshly ground pepper. Pack this mixture onto mustard coating on the meat side only, which will include the sides of the lamb rack.
Clean up any stay crumbs that have fallen onto baking sheet as they tend to burn. Place lamb into preheated oven and cook for 25-30 minutes or until a thermometer registers 125℉-130℉ for medium rare. Remove from oven and allow to rest for 10 minutes. Cut between bones into chops and top with pomegranate sauce, serve immediately.
In a small sauce pan heat butter over medium heat. Add shallots and sauté for 2-3 minutes until starting to soften but not browning. Add beef broth and rosemary sprig. Increase heat and bring to a steady simmer and allow to reduce for about 2 minutes. Stir in port and continue to reduce for about 10 minutes until sauce has thickened and is syrupy. Remove from heat and remove rosemary sprig. Stir in apricot jam and pomegranate molasses. Spoon over lamb chops and serve immediately, serving any extra sauce on the side.
Sauce can be made a day ahead and gently rewarmed for serving.