If you don't know the show, it's very difficult to appreciate the allusions: have a look at the BBC link, which explains the context of the show.

The point here is that Tyler (from Liverpool) is a generally spaced-out individual who everybody thinks is a lunatic - Piers. the doctor, is saying he is so mad he needs a pre-frontal lobotomy (the old "cure" for schizophrenic delusions). So, yes, it's taking the conventional phrase "shake a stick at" and changing it to fit Tyler's medical condition.
"On George's side is Janet's neighbour Tyler, still fazed owing to extensive drug experimentation in the 1960s. He likes George and knows he is Thermoman, but this is not a problem as nobody ever believes anything he says"
"My Hero" is about a super-hero, Thermoman, who is from a On the show, Piers is a doctor and Tyler is a Liverpudlian

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Note added at 2005-05-06 17:23:22 (GMT)
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Sorry about the last sentence - sounds like something Tyler would say!