Lionsgate Press Release: 54 (Blu-ray)

In 2008, about a decade after its original theatrical debut, writer-director Mark Christopher assembled a bootleg Director's Cut of the film with 45 minutes of never before seen footage and unofficially screened it at New York's Outfest around July-August 2008. This version reinstated the blatant promiscuity and bisexuality of Ryan Phillippe's character, as well as the film's core love triangle between Phillippe, Salma Hayek and Breckin Meyer which the Miramax studio forced him to cut from the original release.

During the production, a Miramax executive was often found on the set and studio head Harvey Weinstein flew up from New York to give his approval. Expectations were high with the hopes that the film would become a big summer hit. Christopher finished his cut of the film and the studio scheduled the film's release for July of the following year. After initial positive reaction within the company, early test screenings in the Long Island suburbs for the two-hour cut of the film were disappointing to the studio. Audiences found the characters unlikable and reacted negatively to the kiss between Shane and Greg. They also did not respond well to the happy ending for both of them and Anita. Christopher said via his publicist, “Our goal was to keep the audience sympathetic to the characters, [and] any material that was removed from the film was removed because it was too challenging for some members of the audience." Miramax requested cuts be made and Christopher initially refused.

The studio forced Christopher to reshoot parts of his movie with only two months until its theatrical release, destroying the love triangle subplot between the three characters. Much of the cast was called back for two weeks of additional filming in New York without being told what they would be shooting. Meyer, for example, found out that his substantial part in the film had been cut down to a stereotypical best-friend role and a new scene was shot that portrayed his character as a thief. The kiss between Greg and Shane was replaced with a conversation. Ultimately, 45 minutes of the original film were deleted and replaced with 25 minutes of new scenes and voice-over.