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Yes, that was a young Martin Sheen. Also, this was 1979, not 1978, as I remember the house party I was at when we all sat down and watched this. We agreed that they would have totally cleaned up in our high school's annual drag contest. (We didn't have an annual marionette contest, but we conceded that to Bowie right away, too.)
"TVC15" is one of my favorite Bowie songs, purely music-appreciation-wise, and I remember the first time I heard it... in a Federated Superstore (pre-Best-Buy, the chain that Shadoe Stevens did wonderfully weird commercials for), which made me regret that David B. never did a video for it - something with him jumping into and out of a TV screen. But the poodle with the "TV jaws" was a nice touch.
Also, "Boys" is the best use of lyrical cynicism/sarcasm/irony of the 1970s, but that goes without saying. (I remember my clueless father reacting to the lyrics of "One Tin Soldier" with "Go and hate your neighbor? What a sick song!" and am glad he's never heard "Boys Keep Swinging")