In terms of computer animation technology showcase this was quite a revolutionary short. It may have been the first "pull-focus" in computer animation history (note early in the film when boy is eating his cereal in front of the TV). One of the animators (McKenna) spent a significant portion of his time at MIT studying the realistic motion of insects and the algorithms that describe it and can be implemented in computer animation. Finally, the mix of cell and computer animation techniques was at the least very unusual when the film was made.
Other more silly notes: Mitey-O's cereal is an obvious play on MIT, where the film was made. The "Ring of Sarcasm" is a rendition of the MIT "brass rat" class ring style.