1) Dark Aegis - This character made a brief appearance at the end of the Iron Man cartoon, but not much else is known about him.
2) Radiation Armor Iron Man - I think it's self explanatory.
3) Lava Armor Iron Man - check out the IRON MAN FIGURE ARCHIVE for details on this one.
4) Living Laser - Never heard of this guy before.
5) Magnetic Armor Iron Man - Because you can always use Magnetic Armor. I wonder how Iron Man would stand up against Magneto with this Armor. Actually, I can't even imagine him walking down the street. Think of the crap that would stick to his armor.
In addition to these five figures, there was also rumoured to be an Iron Man playset. This would have been really cool to have as a kid. I especially like the mini-hall-of-armor. A good place to store all of those extra suits.
Not much else can be said of this un-produced line of figures. I don't think we're really missing out on a whole lot. Thankfully, Marvel action figures have improved over the years. But it is still fun to see what could have been...
Check out the IRON MAN FIGURE ARCHIVE for more details on series 5!