The Riddler uses map coordinates as a hint to Batman where his crime will take place, then flips it over, revealing it was actually an address. It can be noted that Riddler uses almost the exact same trick for the locations of some trophies in the video game, Batman: Arkham Knight (2015), in which some trophies can only be unlocked by first activating a panel at the map coordinates scrawled next to the trophy. However, Riddler has reversed X and Y coordinates, similar to how he flipped the coordinates in this particular episode.
The Wacko toy company is a nod to the famous Wham-O toy company, maker of the Frisbee and the Hula Hoop.