I remember that show. Written and produced by Mainframe (infamous for Beast Wars, Beast Machines and Reboot until they went low-profile), it's basically about planets of specific elemental lifeforms (Rock, Ice, Fire, etc.) united against the Beast Planet, which is out to devour and conquer planets in its path.
Despite it was given a conclusion, the Beast Planet begins anew devouring in the finale despite being beaten in the final battle.
The show was also given a second title "Shadow Raiders" due to Canadian cable station YTV, who doesn't want pro-violence titles in their programming. Some of the toy packaging says "Shadow Raiders -- the War Planets".
Toys are basically 3"-5" action figures and micro-playsets made by Trendmasters before it went belly up.
Despite the power of the Beast Planet, it and the Beast Race won't stand a chance against the Chaos-Bringer!!!