Let me see if I can help you (the OP) explain this relatively well-known paradox a little better.
GIVEN:
IF AND ONLY IF Pinocchio tells a lie, THEN his nose grows.
By extension, IF AND ONLY IF Pinocchio tells the truth, THEN his nose will not grow.
THE SITUATION:
Pinocchio makes the statement: "My nose will be growing" (a more exact statement might be: "My nose will grow immediately after I make this statement")
THE PARADOX:
If Pinocchio's nose does grow, then he will have been telling the truth. However, Pinocchio's nose does not grow when he tells the truth. Likewise, if Pinocchio's nose does not grow, then he will have been lying. However, Pinocchio's nose grows when he lies.
Ok, now in response to the initial question, which I take to be are there any paradoxes that can "beat" the Pinocchio paradox for mind-blowingness...well there are lots of paradoxes. Some similar ones to the Pinocchio paradox are:
"This statement is a lie"
"Today is opposite day" (opposite day being the day where everything holds an opposite meaning to it's traditional definition)
A more complete list of famous paradoxes can be found here:
http://en.wikipedia.org/wiki/List_of_paradoxes