Do know exactly, but Cuttlebug and Cricut are both made by the same company. I'd think there'd be similarities.
siggy, help please
I don't have a Cuttlebug but I use Fiskars plates for embossing my fondant. I just roll out the fondant, place the plate on top then roll over firmly with my rolling pin.
Here's a link that shows you how to use Fiskars plates in your Cuttlebug:
I have a cuttlebug, and it's completely different from the cricut. It uses metal die-cut plates, or the embossing folders. The embossing folders are beautiful, and I suppose you can use them to add texture to fondant, but they are small, less than 5"x7". If you were to use them for fondant, you wouldn't even need the machine. I hope that helps!