I would go with Mere on the walkie-talking question. The great thing about the "show science" on L&C was that half the time there was more "show" than "science".

So you could just have LexCorp develop some scrambling technology for Lex to put into use for his nefarious purposes.
As was said, "Replended Man" was big news while he was in town then disappeared when he gave up his powers. (WWWW is probably still out there somewhere ...) I can't think of any crime he could be charged with, even if his name was made public afterwards -- he had these powers and he charged people for rescuing them. The only lawsuit I can think of might be if he ran his business without a license or something like that, but considering all the trouble he went through to make up business cards and create tv commercials, he probably filled out the proper paperwork, too. <g> But given when happened in the episode (his sister being kidnapped) I doubt he'd come out publicly anyway, so it would be hard to know who to sue.
Kathy