Copyright 1990 Newsday, Inc. Newsday October 14, 1990, Sunday, ALL EDITIONS SECTION: PART II; Pg. 11 LENGTH: 567 words HEADLINE: NEW RELEASES BYLINE: Andy Edelstein. Martin Johnson. Wayne Robins BODY: 'Bellybutton' Jellyfish (Charisma) If you're over 35, every track here will remind you of something you've heard before. A snatch of the Raspberries there, a whiff of Squeeze there. But if you're under 25 - as are all the members of this long-haired California quartet - this kind of snapp y, jangly pop music probably sounds fresh, if not downright revolutionary. No synthesizers, no drum machines, just purer pop for nower people. Jellyfish, along with bands like the Posies and Material Issue, is in the vanguard of the newest wave of musica l revisionism: third-generation pop. Its greatest influence seems to be the '70s groups who themselves were derivative of the mid-'60s British Invasion band: Raspberries, Badfinger, the Bay City Rollers as well as more obscure power pop groups. Every decade or so rock decides to throw off its shackles and get back to basics. 1990 is as good a time as any. - Andy Edelstein GRAPHIC: Photo-1) 'Bellybutton' Jellyfish. 2) Betty Carter