The next two images show the actual race on Main Street. Some nice details in the background on the first one including a Monorail and Submarine Voyage poster up at the Opera House.
I like the observer in the background wearing his train conductors hat. And the crowd is really getting into the race. I believe the pancake had to be flipped high enough to pass over the ribbon strung across the street. This must have been quite the competitive sport back in the day. I am sure these ladies had special trainers and diets to compete.
Here is a winner from 1960 receiving her $100 check for winning the California race. I believe the two gentleman are from Quaker Oats. According the official web page for Aunt Jemima, Aylene Lewis was the actress who portrayed Aunt Jemima at Disneyland.