So the thing I should probably say up front is that this is a parody comic, and I am in general a reader who does not like parodies. I get bored of making fun of things I like very quickly, and superhero comics are something (I know this will shock you!) that I like a lot. Also, superhero comics are a largely self-parodying industry (Young Justice will always have a place in my heart), and more can get redundant in a hurry. 
 In other words: I don't care about this as a traditional parody. I care about it as an actual comic with actual characters -- and, as such, it gets in some hilarious digs at mainstream comics! (Perhaps my favorite is the "Where Was She Then?" story, in which Lovebunny's past as sidekick Kid Caliber is explored. Did you know she once won the Academy of Superheroic Skills and Sciences' "Robin" award for Sidekick of the Year and marketed a "Kid Caliber training bra"?) 
 What raises this above embarrassment is, I think, the simple fact that Lovebunny is a competent superhero. What drags it down, sadly, are the author's lecherous fourth-wall intrusions. In the middle, Lovebunny's trials and tribulations are familiar to any superhero comics fan: she wants to establish a reputation, join a superhero team, get along with her crime-fighting partner, deal with a fellow superhero who's an ex, and so on. The art's black-and-white and rather pretty, although putting Lovebunny in sexy poses is sometimes more important than continuity (check out her boots in "Origins", which change heels in nearly every panel). Also, while it might seem petty to point out that there's a while lot of underwear flashing when Lovebunny fights (or sits, or does just about anything in her short-skirt costume) when half of the female superheroes in this or any other universe fight in bikinis, it is true that having a skirt (mostly) covering underwear makes it more risque. But then there's going to be a boot-heel of some sort coming at your face, so there are compensations.