Audio problem: When Greg and Peter were in the family room helping Marcia write a letter to Davy Jones, Peter suggests telling him that he won a $10 million sweepstake. Then as they walk into the kitchen, you hear Greg saying "A $10 million sweepstake" and Peter says "$20 million?" It is clear that he wasn't really talking, because the sound of his voice is very distant, although they were only in the next room.
Plot hole: At the end of the episode, the younger kids are singing the song "Girl" that Davy Jones did a little earlier in the show. The problem is that the song was just recorded and hasn't been released yet, they couldn't possibly know the song. Davy gives Marcia an LP, but it is on the same day the song was recorded, it couldn't be on there either.
Continuity mistake: When Marcia is sitting on the couch talking with Davy, the small beige pillow behind her is either up on the back of the couch or much further down depending on the shot. (00:23:20)
Answer: The dangling bracelet was used for dramatic purposes - to keep the audience on edge.