I managed to get the answer after reviewing the source code. For the record (pun intended)
For the "key" name:
What does the number 9998728386554 mean?
1e13-Unix timestamp, i.e. reverse timestamp, to be able to order it backwards quickly.
What does the last number 1 at the end mean?
vout order in the transaction
For the "value" name:
What does the pair :1:1: mean?
What does the number 289 mean?
This info is relevant for version of insight older than v0.2. For version 0.2 and older spents are obtained with txs-.