As award shows on TV (I think, as I haven't watched one in forever) have awards and musical numbers or whatever, perhaps "lag time" could be filled with the talent show idea?
"Here's an award. Here's an award. Here's an award. Now, a ditty from some member ... with link posted."
"Here are some more awards. Now so-and-so will recite a lovely passage from the winning fanfic."
"Here are some awards. And before we wrap up, here are some vids people have done for Muppet love. They are AMVs or edited mashups or whatnot. Heck, some people even inserted their whatnot over Walter's face to give their own inspirational speech in that one scene from the movie."
"Thank you and good night. See you again next year!"
If people have their "shows" done beforehand, we wouldn't have to wait long for them to be up so they can fit nicely between award segments.