OH SO VERY YES!
First off, I've been a huge Power Rangers fan since I can think, and the structure and overall feeling of reading this make me feel like a incoherent 9-year old on too much sugar again. The Ionic vs Covalent pun cought me completely off guard and I love it. With that out of the way, let's get to details:
Potential: Depending on how creative the GM and group in question are, this can lead to a lot of silly fun, though it likely requires a very certain kind of person, even among the typical RPG crowd, to reach true heights. Though honestly, that's the case with each and every RPG. The highly formulaic structure is great for evoking the TV-show feeling and works great for single episodes, but might lend itself to a high reliance on impromtu acting and to stay fresh for a full season.
Mechanics: A very interesting take on d6 pools, with - at least to me - obvious inspiration in the One Roll Engine, which I'm a big fan of by now. Everything else is very basic and just serves to direct the narration, but the monsters and Ionic Defender Abilities serve as a very customisable and flavorful element to bridge the tactical combat and freeform roleplay crowds into enjoying this game.
Presentation: Clean writing, well made, if basic, character sheets and some neat helmets to round it all off. The only thing that might've been greater would have been some monster ilustrations, but the described designs are creative, properly silly and make my mind's eye go wild.
Theme: As said above, it hits the nail on the head. Everything here is just spot on to rapid-fire the nostalgia synapses in your brain, while still feeling like it has an identity of it's own. Good stuff.