Ok, so I have a question regarding the password glitch that people use on runs of this game.
Is that password really a glitch?
Think about it for a second: The password literally translates to "Momoko", a common female name in Japan. So, what if that password was actually left in intentionally by one of the developers, as an easter egg/debug code? Maybe as a reference to one of the developer's relatives or something like that.
It's a strange coincidence that a common Japanese name just so happens to let you skip levels.

I dunno, that's just an observation on my end. I don't know what you guys think about it.

After doing some testing, it turns out that the ももこ password is required for this category. If you start the game without putting in that password and sit through the 15-20 seconds worth of story at the beginning, the Start+Select Glitch will not work. I'm guessing it is something buggy with the password. Maybe an Easter Egg?

Ok, so I made a TAS of this game using the password last night:
http://tasvideos.org/userfiles/info/46211363890835690

Maybe someone can look into this further with BizHawk's tools or something?

EDIT: