Lois mentions that she went to see a fortune teller who told her she was destined to fall for a guy who "flies a lot and likes to wear tights." This is an ironic allusion for the audience who know something that Lois doesn't know at this time about Clark Kent's future identity of Superman and his future with Lois.
This is the third time that Clark has expressed an opinion on capes. In "Thirst", Clark wore a cape to a costume party at Lana Lang's sorority, and told Chloe, "I kind of like it. But the mask is uncomfortable." In "Action", Rachel Davenport gave Clark the red cape worn by the cinematic Warrior Angel; Clark dismissively hung it on the fence and followed Lana into the house. Here, he tells Oliver that "You looked ridiculous" and he won't try it himself, "Not in this lifetime".
Jimmy mentions meeting Tess in the elevator. As Cassidy Freeman points out in the DVD commentary for this episode, Jimmy and Tess never met onscreen.
When Oliver goes to rescue Jimmy from a thug his Good Samaritan disguise resembles Batman's and Clark's future uniform as Superman. While in the costume he had a blue leather hoodie, a pair of blue jeans, a red cape and a yellow belt with an oval on it. Red, blue and yellow are Superman's colors. Also, the yellow belt and red cape are probably the ones Clark will eventually wear. Someone in the crowd also says "look, up in the sky!"
Clark reminds Oliver that he once dressed up as Green Arrow to protect Oliver's secret identity; Oliver retorts that Clark ended up making out with Oliver's girlfriend. Both of these events occurred in "Hydro".