Croc/WMG

Colored crystals would represent the 5 alignments.

 * Red - Chattur'gha
 * Green - Xel'lotath
 * Blue - Ulyaoth
 * Yellow - the mysterious 5th Ancient
 * more details in a moment...
 * Pink/Purple - Mantarok
 * That would explain why the doors can't be opened without all the crystals.

This bring us to...

Beany The Bird is the 5th Ancient.

 * Her real name might be unpronounceable.
 * The Gongs, scattered throughout the levels make it clear that she is no ordinary being.
 * Perhaps she's the guardian angel of the Gobbos?
 * Note that these are yellow gongs depicting a yellow bird (this is the color that was intended for the 5th Ancient).
 * Her appearance as a bird is significant
 * While the other Ancients appear as aquatic creatures (below the water's surface), Beany manifests herself as a creature capable of flight (above the surface).
 * Does this indicate that the 4 other Ancients had fallen and if yes, then from what estate?
 * Assuming that this is the type of bird that would prey on sea food, Beany clearly depicts herself as the antagonist of Eternal Darkness ancients.
 * "Beany" is not her real name
 * It's a nickname given to her by the Gobbos. It makes as much sense to call her "Beany" as calling Croc "Mr.Fun Socks" or "Choo Choo Mc Boogie".

But why is the game presented as a Sugar Bowl?

Croc is too young to comprehend the Eldritch Horrors.

 * We can't hide the fact that he's still a baby, despite his size. He had the convenience of growing up in an Utopian land, alongside easy-going folk from which he likely got a positive outlook on life.
 * Beany keeps his sanity in check
 * The sky turns red when he loses all hope (Game Over screen), but the yellow bird is there for him

The villains...

Baron Dante is a lich under the service of the other 4 Ancients.

 * Much like Pious Augustus, Dante is a walking corpse capable of utilizing all kind of magick
 * What if the others used him as a pawn to fight Beany?

Dantinis are analogues to zombies from the Nintendo game, albeit more powerful.

 * Color-Coded for Your Convenience, these aberrations correspond to their alignments.
 * Chasing, Flaming and Bat Dantini - Chattur'gha zombie
 * Devil and Stomping Dantini - Mantarok zombie
 * Ice, Jumping and Kidnapping Dantini - Ulyaoth zombie
 * Tumbling Dantini - Dantini original form (yellow alignment) corrupted by the madness of Xel'lotath (traces of green)
 * Swimming and Spiky Dantini - Xel'lotath zombie
 * Maybe this explains why the spiky ones walk straight into the bottomless pits.
 * What if humans are to zombies as Gobbos are to Dantinis?
 * In Croc 2, the Sailor King says that "The Dantinis are very naughty. It's not their fault, though".

Yellow alignment creatures where corrupted by the other four

 * Burrowing Worms - corrupted by Chattur'gha to withstand tail swipe
 * Tumbling Dantini - corrupted by Xel'lotath for a mad rolling attack
 * Orange Firepoppers - corrupted by Chattur'gha and driven mad by Xel'lotath
 * Chained Creature - driven mad by Xel'lotath and from being trapped in the Tower of Power
 * Swipe Swifly - skilled swordsmen seduced by Mantarok's promise of riches and power into being ninja pirate zombies

The islands...

Each island corresponds to one alignment

 * Forest Island - Chattur'gha (burning red lava flows and red minions)
 * Ice Island - Ulyaoth (fantastic clockwork machinations and blue minions)
 * Desert Island - Mantarok (Forbidden City gateway found by Pious was also in the desert)
 * Castle Island - Xel'lotath (the maddening howls throughout the dungeons remind of the insane asylum Dr. Maximillian Roivas was thrown to)
 * Crystal Island - Beany (mix of all levels, four gongs in the final level)

The horror...

Croc's adventure was a one big Xanatos Gambit set up by the other 4 Ancients.

 * Their forms where turned into crystal and shattered into tiny pieces (much like the Secret Sentinel). Then those crystals where scattered throughout the Gobbo archipelago by no other than Beany the bird (and thus knows their location).
 * As a revenge, the Ancients corrupt Dante and send him after the Gobbos, yellow one's beloved people
 * The final Gobbos are locked behind the crystal doors, thus forcing whoever is destined to save them to gather the colored crystals and once again release the Sealed Evil in a Can.
 * The Gobbos and their hero are oblivious to this reality and, after celebration is over, Beany brings Croc to the final Jigsaw piece and unlocks the 5th island
 * By this time, the Ancients move to the final stages of their plan by utilizing the crystals to turn Dante into the Secret Sentinel - basically another Red Herring for Croc
 * But they wheren't aiming for Croc! By defeating the Secret Sentinel, Beany only achieved a Pyrrhic Victory when shattering him to tiny crystalline pieces. This time around, it drained her from most of her strength, allowing only to return Croc safe home, before succumbing to the Eternal Darkness (sadly, we don't see her in Croc 2).
 * Having conquered their foe, the Ancients can now use her power for their evil ways, crafting magickal runes and spell scrolls (including the one that later on cursed Anthony), allowing them to launch an attack on Alexandra's universe.
 * This however, was Mantarok's own Xanatos Gambit, which in the end resulted in the destruction of the 3 Ancients
 * Meanwhile, having lost Beany, Croc's Sugar Bowl universe decays (crystals no longer protect from damage, Gobbos wear clothing and Baron Dante returns)

The ending...

Ending of Croc 2 mirrors the one from Eternal Darkness

 * Instead of Edward Roivas and the runes, we have Professor Gobbo and the colored crystals to seal away the Big Bad.
 * With an exception being that Baron Dante summons black Dantinis, reminiscent of Mantarok zombies.
 * The crystals where placed in the following order: red, green, pink/purple and blue, the last crystal being yellow.

What if Gex was Croc's Evil Counterpart or at least The Rival?

 * Gex debuted with his tail-swiping platforming in 1994. Croc did the same in 3D as for 1997. Gex jumped into 3D (Enter the Gecko) a year later and ended the series with Deep Cover Gecko in 1999. Croc 2 came out later the same year and also ended the series (two mobile games where also made, but are no longer available).

Similarities:

 * Both are colorful, platforming and tail-swiping reptiles.
 * Both haven't seen their new adventure for a long time.
 * Both had their adventures took place in fantasy worlds.
 * Both had to go through a Fetch Qest for a 100% Completion.
 * Both apparently had major problems with most important game elements - controls (Croc) and camera (Gex).
 * Both are able to swim and climb walls
 * Both series came out on PlayStation.

Contrast:

 * Gex can talk fluent English, while Croc cannot.
 * Gex is a pervert, while Croc appears to be a Chaste Hero.
 * Humor of Gex can be subject to Pop Culture Isolation, while Croc tries to cover a wide appeal (though for some it can be Tastes Like Diabetes)
 * Croc likes swimming, while Gex prefers sitting behind the TV all day.

There will be a third game.
And if there is, Croc will finally get a love interest.