Barely averted for John Landis, who was sued over the deaths of Vic Morrow and the two child actors in his segment.
It certainly killed further collaboration between John Landis and Steven Spielberg, who wanted nothing to do with John Landis in the wake of the accident.
It kind of killed John Landis' career. Before the incident, he was an up and coming director who was usually put on the same league as Spielberg, George Lucas, or even Francis Ford Coppola. After the incident? While he did direct some good films and TV series episode here and there, he never had the same level of success or recognition.
Old Shame: Nearly everyone involved in the production was haunted in some manner by the tragedy to take place during filming. Steven Spielberg in particular was so distressed by the incident that he has never spoken to John Landis since.
The original idea for the movie was to adapt a singular story (that concept became the 1988 sci-fi film Miracle Mile) before the show's success in syndication led to the decision to make it an anthology.
The scene with Vic Morrow's tragic accident was supposed to end up with his character pulling a Heel–Face Turn when he rescues two Vietnamese children.
Also, Steven Spielberg was to have adapted "The Monsters Are Due on Maple Street" before Morrow's death led him to change his mind and adapt "Kick the Can" instead (the former was to have required many effects shots and night shooting with children, similar to the segment with Morrow).
It was originally intended to have Spielberg's "Kick The Can" be the final segment, but following audience previews the order was changed. (Interestingly, Jerry Goldsmith's end credit music [which represents all but the John Landis episode] unintentionally reflected the change, as he composed the music before that decision had been made.)
Found among his papers was a script outline for a Twilight Zone movie written by Rod Serling, using two original stories. One story was adapted for the syndicated version of the first revival series, and both were used for a CBS TV movie a few years later.