This would be mega cool if they can pull it off.
Captain Power, for those of you not old enough to remember it, was a late 80s half-hour live action sci-fi show written for the YA audience. You could buy toys that interacted with the tv show while you watched it.
The toys were crap, the show was too expensive for the studio and considered too dark by parents, so it only got one season.
Nontheless, it has a good cult following due in large part to it's strong, character-driven writing. Many of the scripts were written by J Michael Straczinsky (later of B5 fame) himself.
The reboot project is being helmed in part by Judith and Garfield Reeves-Stevens, who (along with Many Coto) almost managed to save Enterprise, and are considered strong writers and showrunners.
I really hope they can pull this off, as it would be a blast to see CP done with todays special FX...
More on Captain Power here: http://en.wikipedia.org/wiki/Captain..._of_the_Future