You're not the only one who saw this, but I suspect it's virtually unknown in the U.S. I have all the episodes on VHS and am praying I have a DVD recorder before they deteriorate. I'm guessing you saw them when Global used to have that hour-long midnight block of weird programming, including the aptly titled WEIRD TV and the wonderful NIGHT STAND WITH DICK DIETRICH.
The opening credits of FUNKY SQUAD were absolutely priceless, with those freeze-frames of each "cast member" in an action pose.
I loved the way "The Chief" (Baldwin Scott, aka Barry Friedlander) would call after the team - Stix, Grant, Poncho and Cassie - as they were leaving his office, and they would spin around as the camera quick-zoomed in on them lookin' cool. "Oh, and uhh, Funky Squad? Stay outta trouble."
I've checked the Australian sites for years looking for this show, but no dice. In fact, little Australian TV of note seems to have made it to DVD yet (or even VHS for that matter). This show is particularly perplexing as the creators - Santo Cilauro, Jane Kennedy, Tom Gleisner and Rob Sitch - went on to further fame with THE CASTLE (1997) - featuring an early role by Eric Bana, and THE DISH (2000)