Ned stating to the the viewer that the students have eleven minutes until the bus leaves is a reference to how long each individual segment usually lasts, similar to how Squidward makes these references in various episodes of "SpongeBob SquarePants" (1999).
Actor Corbin Bleu guess starred in the segment School Plays. His character is Spencer, the dramatic actor. Corbin is most famous for playing Chad in the High School Musical trilogy, with the first movie airing on the Disney Channel on January 20, 2006. The episode aired a few months later on October 22, 2006. No doubt this was obvious stunt casting!