Easter egg: On the U.S. version, there are terrific little nuggets in the newspaper "Far Far Away Times". It's located by following this path: Special Features > More > Far Far Away Times. When you get to the page with the newspaper, you can scroll through more than a dozen pages of really witty and amusing "articles", although you can only read the headlines. Starting on the third page - and on many, many pages thereafter - use the "up" arrow to highlight other parts of the pages. It's a real treasure trove. You'll find Fiona's diary (in its entirety), medieval graffiti, tapestries of the King and Queen in their younger days, medieval street signs, posters for musical acts (like the band "Stonehenge" and "Chastity Belt's World Tour"), Before and After pictures (including the transvestite bartender!), Fairy Godmother's various Potions and the Poison Apple's Drink Menu.
Easter egg: On the "Far Far Away Times" section, on certain pages, you can press up and highlight certain objects. Pressing Enter will get you more galleries.
Answer: The gag is that the wolf has developed a peculiar sexual fetish: he wears women's clothing for fun and is attracted to pigs. The magazine was changed for the trailer to be less suggestive (and thus to make the trailer G-rated).