I've recently just watched it. I'm just a little disappointed he didn't poke more fun at the "Rocko suddenly starts flying" and "baby penguins can now fly" scenes. Oh well.
From what I've seen, NC's final thoughts on the movie is that it's the best out of the "bad Don Bluth movies", that it could have of worked if a few things were changed or attempted better. He doesn't think the movie is terrible, but it's not a movie he'd recommend for kids.