[1] Melbourne's qualification for its second consecutive VFL Grand final appearance capped one of the most remarkable turnarounds in VFL/AFL history; only two seasons prior, the club had finished second-last on the ladder.

In very wet and muddy conditions, Melbourne advanced straight to the Grand final in a torrid 11-point Second Semi-final victory against Collingwood.

[2] After being on top of the ladder going into Round 15 of the 1954 season, Collingwood suffered a dramatic form slump, losing all its remaining home-and-away games to end in seventh position.

Both teams finished the home-and-away season with 14 wins and four losses, but Collingwood's superior percentage helped it claim second place.

In the final stages of the game, the Demons had pulled away to a 13-point lead when Collingwood wingman Des Healey won the ball and dashed down the wing.

Norm Smith had just replaced Geoff Case, who was suffering from cramps, with 20th man Frank "Bluey" Adams, who sprinted onto the ground and into the path of Healey.

[5] As Collingwood supporters jeered and threw bottles, rubbish and fruit at Adams as he was carried from the field, Smith feared a riot.

Essendon legend Dick Reynolds acknowledged Melbourne as deserving premiers but also noted the poor attacking play exhibited by both teams in the game, which he believed to stem from a growing emphasis on rushing the ball into attack: [...] Melbourne proved beyond doubt that it is the best-balanced team in the League, and every fair-minded football fan will applaud the Demons' seventh premiership.

With the game played at its present feverish tempo, unless half-forwards and rovers deliver the ball with rocketing stab passes the centre forward is not in the race.

The decade also marked a golden era in the club's rivalry with Collingwood; 1955 would be the first of five times the two teams faced each other in VFL Grand finals, with Melbourne winning four of those encounters.