Prodigy's Bio in some of the CW related handbooks implied that his armor had been modified to allow some of the gliding/flying abilities that his old magic cloak used to provide. Of course, he could just be leaping very far in some of those panels where he seems to be flying; stretch the cape and glide or something, I don't know.
Hornet's death was a big deal in C.B. Cebulski's THE LONERS series from a few years ago, and was a major source of Johnny Gallo's guilt issues. Simply carrying on as if Hornet wasn't dead would undo some of those issues, which were strong. Two wrongs don't always make a right, even in comics.
Probably a better idea for a revival, if someone actually cared to revive a F-List character, would likely be through his teammate, Dusk. Her powers literally began after she died, and she was revived through some sort of mysterious magical means. She controls shadows and had been stalking Gallo since the end of THE SLINGERS, so it could be possible she could somehow revive Hornet. It wouldn't be terribly far-fetched. The last time she popped up was as one of Puppet Master's love slaves, which is almost akin to necrophilia.
In comics, perception is everything. Most of the mainstream audience sees The Slingers as an outdated spin-off of Spider-Man with some of them seeming very similar to him, such as Ricochet. If perception didn't matter, DC would allow Geoff Johns to reinvent Aquaman rather than keeping him on a shelf because everyone thinks he's a loser. Marvel has been unable to really maintain new characters and make them popular for a very long time, and the Slingers unfortunately are proof. Still, at least they continue to linger in some degree.
I honestly don't see Prodigy joining Slott's MIGHTY AVENGERS and I don't see what role he would have on the team, really. His powers are fairly generic and he would probably spend much of his time arguing with Iron Man (should Stark remain on the team). It would seem pretty random, almost akin to Geo-Force on the JLA. He would probably fit better on Justice's Warriors squad, especially since the "original" MVP is likely staying with his father and leaving the fights to the Scarlet Spiders now.
Gage's last solo issue was the one that introduced Prodigy to the team (as well as Batwing, Annex, Gorilla Girl, and some others). I doubt now that Gage is writing solo full time that he is ready to abandon Prodigy just yet.
