It is indeed based on a true story. In 1949, a little girl named Kathy Fiscus got trapped in a well and died at the age of 3. It was broadcast in a similar way as in Radio Days.
Seth Green has
worked steadily since his turn as Woody Allen's alter ego here.
His most prominent roles have been as Scott Evil in Austin Powers: International Man of Mystery (1997)
and sequels, and as one of the crew in The Italian Job (2003). He also was "Oz" on Buffy the Vampire Slayer.
You're also likely to have heard him as the voice of Family Guy (1999)'s Chris Griffin and numerous other animated shows. He is a co-creator and writer of Cartoon Network's "Robot Chicken".
