Never saw the original show, but whenever I hear it mentioned, I inevitably think of a similarly named kids show
from my childhood.
Anyway, based on the trailer it looks like they're going with a 'Heroes' by way of 'Smallville' type vibe. I honestly don't see thing being anything other than OK. I mean when they have to spoil what looks like the first show's twist ending in the trailer, there's clearly a problem.
That's actually a pretty common trait for pre-release trailers for TV shows. I've noticed over the last couple seasons that most of the trailers now show the plot of almost the entire pilot.
As for the trailer, I thought it looked pretty cool. I've enjoyed the CW Sci-Fi/Fantasy stuff I've watched (Supernatural, Vampire Diaries, The Secret Circle, ect.) so I'm pretty excited for this.