I didn't relate it back to IM/SR at all, but I've been watching it since the pilot, so it got my brain before I started thinking about that stuff.
The problem with relating it to IM/SR is that none of the heroes intend to manifest their powers. Claire feels self-destructive, not indestructible; Peter wants to be different, not like everyone else; Nathan keeps his feet on the ground; Eden doesn't want to say the wrong thing.
And while Time Travel happens annoyingly often in X-Men, the Marvel Universe views it completely differently from "warping the spacetime continuum", as Hiro put it: his conception of how his powers work is completely different the way he describes it.
That said, the whole Niki thing would be a mindjob if you looked at it from an IM/SR perspective.
Have fun with that.