Okay, here is a preview of what I am working on. This is my first mod so it's not quite all there yet.
Power-wise he is mainly a mixture of Colossus and Cyclops, with a move each from Storm and Iceman (both modified).
Really, all I'm doing for now is cutting and pasting powers together and matching them up to animations as closely as possible. As I get the hang of it more, I'll be more inventive.
Anyway here is a preview of my work so far;

(see lower down for more preview pics)
The skin shown is just a place holder (has since been replaced with PS2 skin) until I get something better than paint for editing (old program lost due to hard-drive wipe). I have plans for at least 7 outfits;

L2R: Supreme Power (2 outfits), Classic, Evil Classic, Evil (Weapon-X/Exiles), Earth-X Herald (Old) & Civilian (Supreme Power)
This is what his attacks/skills are currently (open to suggestions);

In addition to flight, might and leadership.
His attacks and xtremes are basically just copied from Colossus (Mega Punch, Uppercut & Ground Slam), Storm (Tornado) & Iceman (Freezing Breath). Flash Vision and Vision Blast are modified from Cyclops, now doing fire damage, with Vision Blast also dealing bleed damage (due to severe burns).
His Solar Absorption boost increases all skills, attack and defense.
Passives wise;
Eternal Mastery (combination of 'Mastery' passives and Mutant Master)
Perceptive Vision (increases attack and reveals hidden enemies (x-ray vision))
Eternal Defense (increases mental, energy and elemental resistances*, inc. resistance to fire dmg, adds a healing factor and increases defense)
Fluid Motion (combination of Prof X's clairvoyance and Cyclops' Defense Grid)
* - Hyperion is supposed to be vulnerable to Argonite Radiation, so I generalized and chose not to increase his radiation resistance. I can always change this.
Am currently looking into skeletons. He is using Colossus for now, but will probably be a combination of others (possibly from MUA). At the moment his eye beams and breath don't originate from his head, despite the line - beambolt = Bip01 Head, in the powerstyle?
Anyway, move-wise he is finished - though still open to suggestions for improvement. I probably won't be able to do much more now for a week or so (due to exams).
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Preliminary (v0.01) version released below:
http://marvelmods.com/forum/index.php?topic=1890.msg34602#msg34602----------------------------------------------------------------
NB: If this is frowned upon due to the ease of changing Hyperion to Superman, then I will not release it.