This Captain eventually acquired an evil twin, Captain 2401 (an even nerdier joke, referencing one minute past midnight, except military time for it would be "0001"). That Captain is all bent out of shape, because he was one minute late and hence could not be Captain Midnight.
His costume is pretty basic. His blue hair and bluish-grey cape were chosen because they are considered "cold" colors. I cannot remember what that chest emblem is.