Ho Yay: Perhaps there's a little between Ergo and Rell. Certainly there's something about the way Rell looks at him upon that first encounter. Not to mention that when Rell stays behind to die, Ergo is the only one who shakes his hand, with a dejected "We had no time". No time for what?
A crowning moment made even better by the (admittedly) AnviliciousAesop that comes with it: whenever Ergo tries to use his magic for selfish ends, or as a Baleful Polymorph to punish others, it immediately backfires on him. The only times it works as he wants are this moment, and when he provided Titch with a puppy for a while—in other words, when he was selfless.
The Beast having his "love is fleeting, power is eternal" maxim tossed back in his face when it's the Beast's minion who betrays him instead of Colwyn who cheats on Lyssa. It'd be one for Lyssa and Colwyn too, if her retort and his rejection of Vella's advances wasn't so blandly-acted.
The Cyclops standing in the dark, where you only see his one eye. This freaked out Ergo enough to agree to join Colwyn and Ynyr.
When the Slayers are killed, they shriek, spark, their heads split open, and you can briefly see wet, dark red things slipping out of their skulls and burrowing into the earth...and it's never explained.
The Beast is shown with obvious camera tricks. According to the '80s All Over podcast this was due to the expensive animatronic proving unable to function as intended, forcing the filmmakers — including a director who simply didn't have fantasy experience — to work around it.
When the heroes are riding the Fire Mares, it couldn't be more obvious that they're in front of a green screen.
The illusionary wall hiding the Emerald Seer is a composite shot with a thick, obvious line between the two halves.