At least that's according to Dream Girl who's quoted on the DC Source blog as saying
"Flashpoint effect has definitely closed off time travel."I guess that puts something of a block on Rip Hunter's activities for the foreseeable future (no pun intended) but it also closes off a big plot device. Time travel has long been a staple of science fiction and comics and to put a lock on it is either a very bold move which will force writers to come up with something different, or a very silly move which is effectively preventing writers from telling stories that can only happen due to time travel.
Wonder how long the ban will last?