An interesting way for this show to go would be....

if Henry's parents got a divorce or if his dad died (maybe to dark for a Nickelodeon show), and then one night Captain Man saves his mom from something, and they end up kissing (I would say hooking up if this weren't a kids show).
So time goes on and Henry finds out and is upset with Ray. Eventually, his mom and Captain Man meet again, and at first she is upset with him for not seeing her after that night. Eventually they start dating. (possibly keeping it a secret from Henry for a while)
Later, they fight about him not revealing his true identity to her, and even though he eventually warms up to the idea, he doesn't because Henry doesn't want him to because he is worried about her finding out that he's Kid Danger.
Henry is glad that Ray did not reveal his identity to his mom at first, until they break up and he sees how hurt his mom is. After that, he goes to Ray and tells him that he wants him to tell her the truth and get back together with her. Meanwhile, someone has found out about her and Captain Man and kidnaps her. Ray and Henry go after her and eventually save her, and after it's done Ray reveals his identity to her. She quickly realizes that Henry is Kid Danger and so, he too takes off his mask. He then tells her that everything was his fault and not Rays, and so her and Ray get back together.
Sometime like the next day or something she has a talk with Henry and Ray and tells them that she is not okay with Henry fighting crime with Ray.
Anyways, the story would continue and the whole story line would last at least a season or two.
This may be to grown up, but I think it would be pretty great and help give the show a stronger storyline that plays out over several seasons and special two-part episodes.