Why not? I mean - it is becoming common to explain myths through Sci-Fi.
Do you watch Primeval? They explained the myth of the Egyptian Creature Ammit with a prehistoric crocodile called "Pristichampsus".
No, the civilization portrayed in the movie is not Aztec - it is a completely fictitious one, since it has builded such big and gross pyramid in Antartica. It is implied that this Civilization was the one that origined Aztec, Maya 'n Inca though.