Using a blender or food processor, grind Fiber One cereal to a breadcrumb-like consisten cy. Pour crumbs into a plastic container that has an airtight lid (or into a sealable plastic bag). Add panko, garlic powder, onion powder, Italian seasoning, and salt. Add as much pepper as you like. Seal and shake to mix thoroughly.
Make sure calamari rings are as dry as possible. (Use a paper towel to soak up moisture.) Place them in a dish, and pour egg substitute over them. Toss to coat evenly.
Transfer rings to the crumb mixture, and secure lid or seal bag. Shake until rings are thoroughly coated, and then place rings on a baking sheet sprayed with nonstick spray. Open any rings that are sticking to themselves.
Bake calamari in the oven for 15 minutes, flipping them about halfway through, until firm and fully cooked. If you like, sprinkle with Parm-style topping and serve with lemon wedges and/or marinara sauce. YUM!