When Homer stops the meltdown, he silently looks at the timer which was stopped at 007. This is a reference to when an atomic bomb was stopped with seven seconds to spare and the timer showed 007, the number (and film name) of James Bond, done by Sean Connery in Goldfinger.
"Homer Defined" is named after Homer's 'admission' to the dictionary.
Mr. Burns wears a toupee in the photograph that is superimposed when he is communicating with Kent Brockman via speaker phone.
Near the end of this episode, there is a scene of Magic Johnson "pulling a Homer" by slipping while trying to make a basket during a game and sliding into the arms of several adoring cheerleaders. Exactly three weeks after this episode aired, on November 7, 1991, Magic Johnson announced that he was HIV-positive, which he got from unprotected sexual intercourse with many women.
During the game show, Wheel of Fortune, while Abe Simpson and Jasper Beardley was watching it, when the contestant played by Dan Castellaneta said, "Three Loins in the Fountain", he meant to say "Three Coins in the Fountain", a 1954 song by Jule Styne and Sammy Cahn and was performed by Dinah Shore. It was also a movie in the same year starring Clifton Webb, Dorothy McGuire, Jean Peters, Louis Jourdan, Rossano Brazzi and Maggie McNamara. The category for this puzzle on Wheel of Fortune should have said "Song & Movie", but unfortunately there's no whole show inside the TV. It has been hidden while Abe and Jasper STILL watched it.