Ok, so just to recap all of the accomplishments of this side:
Won and drew against England and Netherlands in UEFA WC Qualifying Round 2https://en.wikipedia.org/wiki/1994_FIFA_World_Cup_qualification_
Very innovative side - Egil Olsen's tactical genius came up with the Flo pass, which saw a typically weak side manage to pull up to 2nd in the FIFA World Rankings (and ruffle a few feathers with the footballing elite as well.)
Defeated Brazil (ft. Ronaldo, Rivaldo, Juninho, Romario, Bebeto, Roberto Carlos) TWICE from 1997-1998
(Speaking of Brazil, and unrelated to the topic at hand, Norway have never lost to Brazil in their entire history)https://eu-football.info/_summary.php?id=149
Norway's unexpected success leads them to draw a relatively easy group for WC 98.https://en.wikipedia.org/wiki/1998_FIFA_World_Cup_qualification_
Norway followed it up with qualification to the knockout round through Group A, where the aforementioned second defeat of Brazil occurred.https://en.wikipedia.org/wiki/1998_FIFA_World_Cup_Group_A
Norway lost against Italy 1-0, but not many other underdogs can say they held the likes of Roberto Baggio and Christian Vieri to a 1-0 score.
It will be interesting to see what other underdogs are thrown around in this debate.