I've written some Tumblr posts about this...basically, my theory was that this comic was Pre-New 52, so they were a part of the post-Crisis Multiverse. Bionicle's last serial was released June 2011 and then Flashpoint took place September 2011. Basically, Bionicle "ended" because Flash rewrote the multiverse.
Also, there were several theorized Earth-Bonkle counterparts because of the pre-New 53 universe:
Velika, formerly part of an alien super scientist race escapes from an exploding planet in a metal spaceship and finds a new home in which he tries to disguise himself and dwell as a normal inhabitant there, is Earth-Bonkle's Superman.
Takanuva, possessor of an ancient powerful artifact made by a guardian of the universe that only works on users that are chosen but gives him unlimited light-based powers is Earth-Bonkle's Green Lantern.
Helryx, a no-nonsense leader of a secret government agency dedicated to working behind the scenes and making sure the heroes are sent in the right direction and also keep them in line is Earth-Bonkle's Amanda Waller.
Lariska, a bounty-hunter always in search of money and has no powers to speak of but still a pretty formidable foe who you don't know is on the side of evil or good is Earth-Bonkle's Catwoman.
And so on.