You got the connection: it's a reference to something having all the bells and whistles. In this case, it's a fully configured instance of Pentaho.
At the risk of killing a funny reference with over-analysis, the joke is that it alludes to a common hip-hop trope of referring to haters, people who are jealous of one's success. This is evident earlier in the song you linked to, when he says:
Playing World of Warcraft while they type up their code
"But that's not good enough for 'enterprise mode'"
So they laughed and they dissed and they acted like haters
While we coded with the force like open-source Darth Vaders
"Haters hating" is a popular trope amongst nerds and geeks for ultimately unknown reasons (I say it's the repitition, but what do I know?), but it has at least some of its origins in Chamillionaire's "Ridin'". The song has the following hook:
They see me rollin' they hatin'
Trying to catch me ridin' dirty
Chamillionaire is making a reference to a somewhat American-specific racial issue of driving while black, where cops in some areas reportedly conduct racial profiling and make inordinately more traffic stops for African-Americans.
But the song has sparked several memes and image macros and perhaps most famously the nerdy parody anthem by Weird Al Yankovic, "White and Nerdy". In it, he takes "Ridin'"'s melody and replaces the lyrics with various references to geek culture.
You should see the connection between Weird Al's "White and Nerdy" and the video you linked: the joke is the juxtaposition of hip-hop culture concerned with serious racial issues with awkward white nerds who are primarily interested in geeky stuff like open-source projects.
That is to say, haters gonna hate a fully tricked out Pentaho instance.