Celebrity Sightings:
Erik Davis snapped the above photo of our own Jen Yamato interviewing Elektra Luxx actresses Malin Ackerman, Carla Gugino and Emmanuelle Chriqui outside the Paramount Theater. And while not in-person, Erik also spotted Emma Roberts in the most random billboard ever.

UPDATE: During the Elektra Luxx screening, the projector broke with only a quarter of the film left to go, forcing director Sebastian Gutierrez to stage an impromptu q&a that eventually included cast members. As uncomfortable as it was -- for them, for SXSW and for us -- Gutierrez powered through it and kept everyone laughing, feeling good and totally vibin' this random freak festival occurrence as if it had suddenly become "the event" of the week -- so much so that he and the cast were given a standing ovation when the festival finally announced that they wouldn't be able to fix the problem at that moment in time. As such, our review will be delayed until we screen a full cut of the film. No other screenings are scheduled as of this writing. More upcoming ... [added by Erik Davis]

Our Coverage: Jen Yamato talked to the Kick-Ass cast and creators about Kick-Ass 2, in which co-star Clark Duke may take the War Machine role: "I've already gotten multiple promises from all of them -- Matthew and Mark and John, all the apostles -- that I get a costume."

Jen was also on a panel called Hyperbole In Film Criticism & Analysis with fellow Cinematical writers Scott Weinberg and Erik Childress, as well as friends James Rocchi (MSN Movies), Drew McWeeny (HitFix) and Marjorie Baumgarten (Austin Chronicle). indieWIRE's Anne Thompson live-Tweeted the event, calling it "depressing." She noted that Childress called Pete Hammond a "whore extreme" and quoted McWeeny as claiming Twilight is "culturally dangerous" and that Siskel & Ebert's thumbs were "deadly to film culture." Rocchi admitted, "if I were a whore or a gigolo I'd be much thinner." Neil Miller of FIlm School Rejects also followed the panel on Twitter. He quotes Weinberg, then responds: "'I take what I do seriously. I have a lot of respect for my profession.' That's the lesson here, kids."

Reviews include Saturday Night, a behind-the-scenes look at SNL directed by James Franco. Erik Davis says the actor-turned-filmmaker is "one of only a few people who could've made this kind of documentary since he's friends with a lot of these people, and, as such, they open up more than they probably should." Peter Martin looks at Reel Injun, a documentary about the depictions of Native Americans in cinema, and the comedy Barry Munday, which he says transcends "a familiar plot with sharp dialogue and awkward grace."

Eugene Novikov writes that the documentary Thunder Road is "a little bit anodyne. But watching it was the sort of prototypical festival-going experience that makes these trips worthwhile; a communal outpouring of enthusiasm and admiration." Meanwhile, at our sister site Horror Squad, Peter Hall writes that Red, White & Blue "is a difficult film to watch, but that doesn't mean that it is unrewarding. Finding an independent, low-budget horror movie that knows to imply its brutality over explicitly showing it is like finding rare treasure these days. When it is found, it's a time for celebration."

Deals: No distribution deals to report still, but Anne Thompson reports that Cinema Management Group has picked up foreign sales duties for the college thriller Brotherhood for all territories outside of America.

indieWIRE Love: Anne Thompson observes that Aaron Katz's Cold Weather is the first hit of the festival. On the site, Eric Kohn writes that the film "adapts multiple cliches and overcomes all of them to reach a greater significance ... it also conveys a magical realist sensibility in the tradition of Paul Thomas Anderson's Punch-Drunk Love, the kind of moving image experience informed by expressive audiovisual maneuvers rather than melodramatic overstatements."

Blogs, Tweets and Treats:
The Playlist has learned through its interview with Michel Gondry that Seth Rogen and Juliette Lewis will join Steve Buscemi to voice characters in the director's forthcoming animated film Megalomania.

Tweets from our crew and friends:

@erikdavis: "Who needs a spirited Dazed and Confused sequel when you can just hang out at #sxsw for a few days ..."

@gadgetguy (Kevin Kelly): "SXSW Secret #1: the Paramount balcony level has the best bathrooms."

@akstanwyck (Anne Thompson): "Seeing lot of beefy bald guys with beards and black t-shirts."