Dueling Movies: The also April Fools-centric horror films Slaughter High and Killer Party were released the same year, and were even going to be (respectively) titled April Fool's Day and The April Fool, but were renamed at the last minute due to this film.
Old Shame: Sort of. The director apologized for making the film in the documentary Going To Pieces (which is about slasher films), but mentioned that it was an interesting concept that simply didn't do as well as hoped.
What Could Have Been: Plenty of alternate endings were planned, all of them featuring actual murdering. The most notable of them can be read about on here.