"Bubble Wrap" is, indeed, a trademarked term. (Though you could probably make argument for it being a genericized trademark.)
The myth with it was actually a bit surprising in how very little protection it offered and how much it'd take to really offer any meaningful protection. I was also surprised Adam put himself on the line for this (and more so the insurance and such allowed it.) I think this is the most Adam's put himself "on the line" for testing the myth since the lawnchair balloon myth way back in the pilot episodes.
The ejector seat flip wasn't too surprising. It did give a chuckle on how torched the car was by the end of all of the testing.