I'm somewhat intrigued by the version in that emulator you linked, too, as I know for certain the version I played as a kid said "BABYLAND PARK" on the sign, not "BABYLAND GENERAL" with a trademark symbol. I guess there were multiple revisions of the cartridge?
Watching this Youtube-video there is indeed a version with "BABYLAND PARK". No skill levels to select, but you still have to press 5 for 2 players. It seems to me that it's a little bit modified successor of the online version I reffered to.