Super Challenge World is actually my friend's hack. He made it back when we were first learning to use Lunar Magic (the SMW hacking tool), so there are some level design improvements and bug fixes that could be done. Also, he miscountend the number of exits (there are actually 109). But, in my opinion, the levels are inventive and fun; some exits require knowledge of minor glitches or little-known properties to complete.
A while ago, I made this TAS of the game for fun (it's up to Frosty Cave 2 or 3). Here it is, for everyone's enjoyment:
http://dehacked.2y.net/microstorage.php/info/3480/Super%20Challenge%20World%20TAS%20v2.smv
I use pretty much all the major TAS techniques, like the hopping glitch, 6/5, etc. in this movie, but I never intended this for serious publication, so I never tried to absolutely exhaust all the possibilities. The basic route I was aiming for was racing to the first cape as fast as possible (in Lava Lake 2), then going back to collect all the other exits (some of the levels are ridiculously broken using the cape).
One of my favorite parts of this game is all the different ways one can skip large parts of levels. This game is very suited for discovering unique TAS routes and tricks.