Nirvana was offered a part in the film as one of the performers in Waynestock and band members Kurt Cobain, Dave Grohl and Krist Novoselic were even shown a rough cut of the film to try to persuade them but they eventually declined.
The story that the roadie keeps telling, about having to fill a brandy glass with brown M&Ms for Ozzy Osbourne, is based on a true story that has become a bit of an urban legend. Van Halen had a rider (a contractual list of items that a band demands from the concert venue - towels, catering, stage equipment requirements, etc.) that said there must be a bowl of M&Ms backstage, but with all the brown ones removed. The reason for the absurd rule was to make sure that the entire rider (which included safety measurements for the band's exceptionally large and heavy stage set) had been read and obeyed in full. Sure enough at Pueblo, Colorado show, the rider wasn't read and the staging crashed through the floor. This lead to the urban myth that the band flipped out and intentionally caused the $80,000 worth of damage themselves all because they found brown M&Ms.
When Wayne gets off the phone with Jeff Wong, the last thing Wayne says is "Chi soh hai bin do ah," as if it were a way of saying "Goodbye." However, this is Cantonese for "Where is the toilet?"
When director Penelope Spheeris was asked why she declined to direct this sequel after directing the original, she said couldn't "deal" with Mike Myers again. Apparently Myers and Spheeris had a few "creative differences" (it is also rumoured that Myers had her blocked from directing). She directed The Beverly Hillbillies (1993) instead.
The filming for the Aerosmith concert in the movie that supposedly takes place in Chicago took place in San Diego, California. Both Mike Myers and Dana Carvey were in the audience filming live.
Stephen Surjik: as himself, breaking the fourth wall to recast the gas station manager in mid-scene.