Well... the preview makes it look like it should be good. But I've seen a number of these from Full Moon of late that got my hopes up.
Trent Haaga is once again back as the titular demonic clown, for better or worse; I thought Angel Vargas was the only really good thing about the original "Killjoy" film. The recasting is not that big a deal, though, as this film appears to have nothing whatsoever to do with the original other than it happens to feature a killer clown... multiple killer clowns, in fact.
A positive sign that this may actually be a pretty decent film is the presence of some okay actors, such as Darrow Igus and the aforementioned Trent Haaga. (But despite what the header on the inbedded trailer says, this is NOT a movie "by Charles Band." He's producing, but the writer/director is fellow by the name of John Lechago.)
A negative sign is the cover art from the DVD box. That's some pretty awful looking make-up on those actors.
As fate would have it, I had the original "Killjoy" slated to be my next review. Look for it here shortly.