"Teen sensation" Frankie Catalina's name refers to Frankie Avalon, a real teen idol at the time the episode was made. "Avalon" is the largest city on the island of Catalina, 22 miles from Los Angeles.
The album with Davy Jones' picture on the cover was an actual release. Prior to joining The Monkees, Davy released the album in the US 1965. However, it wasn't released in his native Britain until 1967.
Kramm walks down the beach casting off suggestions to star in the movie, including "Robbie Rafelson," i.e, show producer Bob Rafelson.
One of the groups that Peter Tork mentions while going through his record collection was The Lovin' Spoonful. Interestingly, when the series which became "The Monkees" was first being pitched, one of the groups considered to star in the show was the Spoonful.
The yoked, gathered brown shirt with white polka dots worn by "director" Kramm and by Peter Tork in the video of "Valleri" is identical to the shirt worn by Bob Dylan a decade later in the film The Last Waltz (1978). The open-collared blue shirt worn by Kramm is also worn by Davy in the "Valleri" video and several other times in the series.