Asian cultures have a long tradition of eating insects, but I don't think it would be very popular in western societies.
Mind you, if they simply processed the bugs, so they didn't look like bugs, people wouldn't be able to tell the difference. People believe that what they are getting in chicken nuggets, is actually chicken, so they would probably eat anything, if you told them it was chicken.
There are already a lot of bugs in our food supply that people are not aware of. Chocolate for example is notorious for containing cockroaches and other bugs that are often added as a filler. And flour will develop weevils after storing for a time as the eggs in the flour hatch.