This is one of those rare stories that can go either way because it is coming from IMDB. Slaughter High is a 1986 slasher flick written and directed by George Dugdale, Mark Ezra, and Peter Litten. The original story is about eight people being invited to their 10 year reunion at their now closed down high school, where a disfigured former student seeks revenge over a prank gone horribly wrong. Apparently, the remake is set to be released in 2012.
http://youtu.be/_ZajH682TY0
Source:
http://www.imdb.com/title/tt1893338
It might be real, but only time will tell. You can learn more if you have an IMDBPro account.