From AWN:

23. DONNIE DARKO RETURNS TO THEATERS WITH NEW F/X.
Newmarket Films has announced that it will be releasing in theaters a new director's cut of sci-fi cult favorite DONNIE DARKO, reports VARIETY. The new version will include 21 minutes of footage not in the original release and beefed up visual effects. The new cut will debut May 29 at the Seattle Film Festival then roll out in theaters slowly starting in July. The original theatrical release in 2001 only grossed $517,375, but the film has found a cult following on DVD, grossing $10 million.

So I'm excited. I'll refrain from passing judgement on the issue of "beefed up visual effects" until I see them. Mmm, Jake Gy-- gah, I don't think I'll ever be able to spell that boy's last name. You know he almost replaced Tobey McGuire in Spiderman 2 when Tobey was experiencing slight spine issues from all the horse riding in Seabiscuit? Yup. Mmm, unspellable last name-boy.