While frankly Totally Awesome looks totally lame, I confess to being curious about this film. I have fond memories of most of the movies being lampooned here, so I'm game for at least giving it a shot. It looks like the film has elements of The Karate Kid, Footloose, Teen Wolf, Dirty Dancing, and scads of others. The cast includes SNL vets Tracy Morgan and Chris Kattan, with cameos from such 80s luminaries as Ben Stein, Jason Bateman and Jon Cryer.
Monsters and Critics is reporting that this film will be in U.S. theaters November 4, but since the DVD release is scheduled for the same month, don't bet on it getting big distribution. To make things even more confusing, the IMDB lists this as a made-for-TV movie. Maybe they meant made-for-the garbage.
CORRECTION: As pointed out by eagle-eyed commenter Jonathan Carpenter, this film will actually debut on VH-1 on November 4 with the DVD streeting on November 7. Reports of Totally Awesome's theatrical release appear to have been incorrect.