I have not seen this since I was six, but I do remember being enthralled back then. But then I was enthralled by Silverhawks too, and after much debate on the subject decided to recategorize.
There is much controversy regarding Donald Duck's family tree. The american canon is very straightforward, but the european canon is a lot more complicated. Specially with the Paperinik stories.
For example, in one Paperinik universe there is no Daisy Duck. The romantic interest for Donald Duck (Paperinik) is a curvaceous android duck from the future.
Now, while the european comics are much better, there is one fact about the american canon that provides importance to the american Donald Duck family tree: Donald Duck has an aunt called Fanny Coot.
Thank you ROUS for finding this. I now know that this wasn't a fever dream that I had when I was a kid. I've always loved that this is just the story of Pinocchio but in space with everything almost exactly the same, but with "Space" as a prefix.
This is the perfect thing to come back to after not having any electricity for basically 48 hours.
One other thing I remember is a European cartoon with a huge caravan of animals marching somewhere who all get killed by this one guy who pulls off his human costume to reveal a monkey. All set to Ravel's Bolero.