The episode spoofs 1980s TV sitcoms, so, appropriately, the jumbled words on the theater marquee are the titles of popular '80s sitcoms. From left to right: Family Ties (1982), Who's the Boss? (1984), Family Matters (1989), Perfect Strangers (1986), and Full House (1987).
Neighbor Norris says that he's gonna help himself to some dairy products, prompting Boone to remark that it's a quality catchphrase. This is a reference to Urkel's "Got any cheese?" catchphrase on Family Matters (1989).
The freeze frame credit at the end says that the show-within-the-show was created by Sam Bush and Jared Levine. This is a reference to the actual Penn Zero creators Sam J. Levine and Jared Bush.
As the episode spoofs 1980s TV sitcoms, it's only fitting that Reginald VelJohnson (from Family Matters (1989)) and Judith Light (from Who's the Boss? (1984)) are guest stars, providing the voices for Mr. Flanigan and Mrs. Wright, respectively.
The mischievous son is named Max Wright. That was also the name of the actor (Max Wright) who played the father on the '80s sitcom ALF (1986).