I submit that there is not!
Note the classic 80s video Rockin-Hard-In-The-Middle-Of-Nowhere theme. It could be a park, an abandoned building, some isolated street, in this case it looks like an industrial area and they happen to be enclosed by a chain link fence. Everything falls into place here. Hot 80s dancing babe? Check. (Cynthia Rhodes from Dirty Dancing) Embarrassing sunglasses on a badass guitar player? Check. Wild hairdos, mustaches? Check! Check! Check! They even have a classic 80s homoerotic street punk gang fight/dance off.
Now on to the bonus round:
Hidden meaning? Band member Steve Porcaro once dated actress Rosanna Arquette and this song was thought to be about her. Although, the songwriter, David Paich, said the rest of the song was already finished and it just so happened that Rosanna was was a good name to use for the chorus so he used it.
Band background? They were all well-respected studio musicians who decided to get together and form a band themselves. Nowadays they throw a recording contract towards anybody who might look halfway decent in a video. In classic rock fashion, these guys aren't going to win any beauty contests, but they have actual talent that they honed for years as professional musicians.
Irrelevant bonus round:
My downstairs neighbor is named Rosanna and she's going to be a fighter pilot. Also, there is a chance she might think I'm a psycho because I always play a song with her name in it.
All in all, this is an excellent example of what 80s videos are all about.
Toto - Rosanna (HQ Audio)
http://www.youtube.com/watch?v=Gq4ychrRkQA&feature=email