I didn't watch the whole thing, but the voice over has to be redone or else your audience retention will drop badly, plus there's some scenes with a lot of background noise that should be taken out (noise reduction)
It's pretty obvious the entire video is meant to be bad. The great thing though, is that it's slightly over the top, but not too much. The real interviews confused me, made it look serious while it actually isn't.
Ben Kingsley made me laugh so much.
I think you did a great job. You might want to remove some background hiss, but it doesn't matter that much.
However, although some cuts are intentionally short and cutting people off, I think there should be a little more room. Cuts where I would put some more frames in, would be the one at 7 seconds in, give the "teacher" a little more time. And at 2:04, when the teachers ends, you cut of pretty quick, give it a little more room. If it's on purpose, make it more obvious (cut sooner).
Mr. Pomposo is my favorite. The song made me think of The Lonely Island.
But I really love the video.