Apparently Elvis Presley faked his death according to the episode.
Cosmo is, apparently friends with Elvis as he didn't mind that Cosmo found his "underground rock and roll beach kingdom" but was pretty irritated when Chester and his father wound up on his "sand lawn"
When Timmy is lifting his friends and Trixie Tang up on his fingertips, one of the girls in the background looks exactly like Trixie, but with blond hair.
SpongeBob SquarePants may have referenced the title card of this episode in the poster for The SpongeBob Movie: Sponge Out of Water. Both have the main character having there swimsuit being pulled by a crab.
Coppertone - The title card shows a crab grabbing Timmy's bathing suit, revealing his buttocks which is similar to Coppertone' merchandise image which is a dog grabbing a girl's bathing suit.
Baywatch - The lifeguards (two girls and one guy) running in slow-motion is a parody of the show.
Chariots of Fire - The background music played when the lifeguards are running in slow-motion is similar to the theme song of the 1981 film, composed by Vangelis.
The Incredible Hulk - When Timmy becomes larger, he resembles and begin to talk like the Incredible Hulk.
Francis and Trixie refer to a book on beach bullying how to use it to impress girls on several occasions.
The Sea Monster Response Team insisting that they are not a waste of money. Later on, it's shown that their vehicles are literally fueled by burning money.
Timmy saying that the Baywatch-parody lifeguards are slow, but look good.
The Sea Monster Response Team's flag incorrectly spells "response" as "repsonse".
At the end of the episode, Mr. Bickles runs along with Timmy and his fairies (clearly in fairy form) with no consequences to them. On the other hand, Mr. Bickles may have assumed they are not fairies. Also it is stated in "Information Stupor Highway" that as long as nobody knows that Cosmo and Wanda are Timmy's godparents they don't have to go away forever.
After Timmy destroys Mr. Bickles' restaurant, Mr. Bickles didn't scream, "My dream... RUINED!" which is what he screams when something related to his dream is destroyed.