Its a code that let's you skip the first half of the game, so that you don't have to replay it again.
However, I'm close to releasing a version that has this feature built in (due to Inform wonkiness, 'saves' aren't actually a real thing in the traditional sense. Instead I had to code an entire save function myself from scratch). This will allow you to save progress, and for older versions without the feature - will temporarily feature a passcode that kind of almost works (at least enough to port older versions to the new version).
As for the post-grapple victory scenes, there are a few things like that in the full version - though its definitely not every enemy. Not including enemies that can be found in the first half of the game there are three, including them - its five.