I seem to remember Buzz Belmondo (more well know from Out Of This World) hosting this show even though neither this page or Buzz's page mention it.
I also only remember two sketches/videos: "Rockin Robin". Where Robin and Batman where beating up bad guys. Then Robin started beating up Batman. I remember it was done in the style of the 60s Adam West show, as the was on in reruns at the time.
The other bit I remember was ZZ Top's song "Legs". There where two or three models with long ZZ Top like beards on their legs. After the song it cut back to Buzz who pulled a clump of hair off his chest and threw it off stage saying "Hey ZZ Girls, you got a bald spot!"
I'd Love to find some clips (or full episodes) somewhere so I could rewatch it.