Subtitled, "The Complete Superhero Role-Playing Game System", this game was originally published in Australia in 1983 by Adventure Simulations and was latter distributed in America by Gamelords, Ltd.
From the advertisement from Multiverse Issue 2 (Spring 1984) p21:
"Super Squadron is an easy-to-play game, where participants create imaginary characters in a contemporary enviroment, but with abilities far beyond normal men!
Characters begin with a number of extraordinary powers. There are over 75 different powers available, utilizing almost 200 different abilities, all of which are detailed and ready for use. The players then take their characters through adventures in a world of Superheroes and Super-Villains, taking either role for their character. They can develop their abilities as they progress."