Apparently there are a lot of real fake things in Hollywood since some of the people in Hollywood are shown covering up something that would look bad or ugly to them. (Cosmo and Wanda both make note of this while Timmy is in Hollywood)
The title is an obvious reference to the infamous phrase "Lights, Camera, Action!".
TCL Chinese Theater - Dann's Chinese Theater is a parody of TCL Chinese Theater which was formerly known as Mann's Chinese Theater in Hollywood famous for its celebrity handprint ceremonies
Butch Hartman - The last star in the "Walk of Fame" is the show's creator.
Jay Leno - When Crimson Chin crashes into a Hollywood broadcasting channel, he crashes into "The Tonight Show with Jay Leno" at a moment when Jay Leno was interviewing Britney Britney.
Adam West telling someone that they'd be perfect for the role of Cleft.
Adam using a grappling hook.
Everytime someone says "Look, it's TV's Adam West!", Adam replies "Where?".
When The Bronze Kneecap’s hand comes out from Crimson Chin’s comic book, while in close-up, the scene accidentally changes from the audition background to the filming stage background with the words “STAGE 7” behind it before fading to the director’s hand holding a megaphone.
As The Bronze Kneecap flies across the sky before crashing into the trailer, Cosmo/Clefto's chin is pink instead of green.