For some reason I was trying to google the artist who designed the original Lazer Tag guns. I was unsuccessful, but for some reason I was stuck on 80s toys that shot lasers, and I remembered Captain Power was a toy my younger brother had, and there was a TV show that interacted with the toys. I youtubed it, and it's pretty rad. It's like an cross between Stargate/Star Trek TNG/Terminator and Robocop. It's way more "adult" than it should have been, but combined with the fact that it's all a big toy commercial. It's pretty entertaining.
http://www.imdb.com/title/tt0092329/ (http://www.imdb.com/title/tt0092329/)
I'm pretty sure there was a cereal too. I think they were pretty much like frosted flakes. But yes, captain power is awesome. I'm surprised it hasn't been turned into a movie.