"Were the World Mine" is a modern retelling of A Midsummer Night's Dream, following the adventures of High Schooler Timothy, a gay kid cast in a school production of A Midsummer Night's Dream as Puck. Somehow, he finds a love potion and runs around the city making everyone fall in love with a person of their same gender. To top it all off, it is a musical.
Since the movie has been compared with Hedwig by the critics, I can only hope it does take a serious look at the question of sexual orientation, and doesn't just use it as a point of tension for the sake of drama. It is hard to read that from the trailer, but I have my fingers crossed.
The movie is already in limited release, and it is available to save to your queue on Netflix. (I already did)
For more information, see their site.