Pat and Stan watching The Lion King movie is similar to the opening in The Lion King 1½ where Timon and Pumbaa watch the first movie in theaters before going to the actual story.
The grubs in this story are known as bugs.
In Chapter 4 when Timon says, "NOW GET OUT OF OUR HAKUNA MATATA", it is a reference to The Lion King II: Simba's Pride, when Timon says, "GET OUT OF OUR PRIDE LANDS" to Zira.
In Chapter 5 when Pumbaa said in slower "Hakuna Matata. it means "no worries", It is a reference to The Lion King when Pumbaa said, "Hakuna Matata. it means "no worries" and it is the same quote used in this story.
In Chapter 7 when Pumbaa said the word "9000", it is a reference to Dragon Ball Z when Vegeta said "IT OVER 9000!".
In the nightmare scene where Pat is waken to a white blank setting is the World of Nothing from Super Paper Mario. The World of Nothing will make an appearance in future crossover stories like Mario and Spyro: A Tale of Plumber and Dragon.