Okay, just a few comments...

1.  It may be hard to believe, but some of us have a life .  I didn't even see this post until this morning.

2.  Though I agree that Metal is very easy, the song you posted is about the furthest thing from Metal you can get.

3.  Sounds like you're having a lot of fun with your new tremolo.  It is a blast to play with and that's what it's all about (forget everything you know about the Hokey Pokey).

Here are some other whammy tricks to play with/learn/master...

Flutter

Basically, you hit a note and slap your whammy bar lightly.  You're pressing the whammy bar down and letting it snap back.  This will cause it to bounce back and forth very quickly causing your notes to get a strange "grrrrrrrrr" overtone.  This may be easier for you if you put the whammy bar pointing straight to the back of the guitar.  You can just pick a note, and quickly slap the bar with your picking hand.

Lizard Down the Throat

That's what Satriani calls it anyway.  You'll slide a note (make sure it's a note you want to hear) up the neck to a note you want to eventually hit.  As you slide the first note, you will depress the whammy bar so the note, though sliding up, isn't changing.  As soon as you get to the final note, you let up on the whammy bar to express the final note.  You'll get this really cool "r-r-r-r-r-r" as you slide up because the bar is bending the note smoothly and your note is creasing one fret at a time.  Then, you get a cool "weeee" sound from releasing your bar to hit the final note.  When you master this, you'll want to hit it fast and smooth.  It will make ears do a double-take.

Screech Dive

This one is tough to find, but once you find it, you'll use it all over the place like so many of the whammy masters.  There are two ways to do this.  The easiest way is to lay your fretting hand across the strings around the neck pickup.  You're looking for the harmonics that hit there (you'll want to use, at least, two fingers so the harmonics are a little "sloppy").  You will strike all the strings so they all ring that really high harmonic, then you will quickly depress your whammy.  You will get a really cool, almost eagle-like screech that dives as you depress the bar.  Also, you will get some really odd sympathetic, dissonant harmonics that ring with the strings are you depress the bar.

The other way to achieve this is to use the blade of your picking hand to hit those harmonics.  You will reach under the neck, in front of the body with your picking hand to grab the whammy bar.  This way is tougher, but is more visually stunning.

There are more that I'm sure others can explain, but these are the first three off the top of my head.

Here's a friend of mine by the name of Ponco Satrio.  He's a fantastic guitar player and the absolute nicest guy on the planet.  Here are some free lessons on the Whammy bar.  He's Indonesian so some of these lessons are not in English.  Still, you can see the techniques he's using very clearly:

http://www.youtube.com/watch?v=GrGuDghdsD8 (start this one about 2 minutes in for the Flutter technique)

If you just want some basic guitar lessons, he's got a metric, cubic, butt-ton of them on line:  http://www.youtube.com/results?search_type=&search_query=ponco+satrio&aq=f

Alright!  Easy on the a$$-bay olo-say.  Some of us happen to do pretty good with standing out on our own. 

Hey its Lil Wayne!

Bumpy > Vai

I feel it really could have used a bit of smoke on the water and maybe a pig squeel.

My favorite one is about the bass player who locked his keys in the car...  took 'em two hours to get the drummer out.