How come this js preloader does not work?

Here is the page:

The progress bar itself fills up, giving the impression that it is doing its job, but then when the preloaded page comes up, the user still has to wait for the rollovers to become active for their image-swaps.

I would be most grateful for any hints. Thanks for reading.

Also: How come a trout is biting this guy’s head? :trout: Is it a web design reference?