DIC lost the rights to the Saban-produced Inspector Gadget music once the two corporations parted ways sometime after the Inspector Gadget (1983) TV show concluded it's run. This is why the Inspector Gadget theme is not heard in this 1992 DIC production, or the Super Nintendo game that was released the following year.
In the special, veteran cast member Frank Welker provides the voice of Santa Claus. He had previously voiced a different version of Santa in A Chipmunk Christmas (1981).