Answer:
I am an insect half of my name is another insect. I am similar to the name of a famous band.
I reach for the sky but clutch to the ground. Sometimes I leave but I am always around.
I cannot be other than what I am, until the man who made me dies. Power and glory will fall to me, only when he last closes his eyes.
I can be short and sometimes hot. When displayed I'm never cold. What am I?
Searing 'cross the pitch-black skies I scream in celebration Yet moments later my outburst through I am naught but imagination.
I fly to any foreign parts assisted by my spreading wings. My body holds an hundred hearts Nay I will tell you stranger things when I am not in haste I ride and then I mend my pace anon.