54

In 2008, about a decade after its original theatrical debut, writer and 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.

When Shane is driving in his Camaro Z28 to his father's home to drop off Christmas presents, a New York City cab can be seen in the rear window. The cab is a 1997 Ford Crown Victoria.

As the credits roll, photographs are shown, first of visiting celebrities (e.g., Brooke Shields, George Burns, Arnold Schwarzenegger), then candid shots of unidentified customers.

A 40 second scene at 1:46 on the DVD showing Ryan having sex in a car was not seen on the PPV telecast nor in theaters but was on the DVD. A promotional clip showing Shane and Julie discussing her status as his girlfriend was edited out of the film after the line where she says "You're Sweet". Another promotional clip had Bell & James "Livin' It Up (Friday Night)" playing when Shane was trying to get into 54. In the film no song was playing at the time.

Featured in The Rise & Fall of Studio 54 (1998)