The phrase "jump the shark" originated in the show Happy Days (1974-1984). Actor Henry Winkler (who voices Ambush Bug) played the Fonz, who literally jumped a shark in a 1977 episode of the show.
The comic book that Batmite is holding is Detective Comics issue number 241.
The title Mitefall is taken from a multi-part cross-over story from the Batman comic books entitled Knightfall.
A piano version of the song" If Only (He Could Love Me)" can be heard towards the end of the episode.