No, Slaughter is not a biopic based on the seminal early '90s hair metal band responsible for such awesomely craptastic hits as "Up All Night" and "Fly to the Angels"; it's a new horror pic starring current reigning scream queens Shawnee Smith (Saw II, Saw III, and presumably Saw IV through XVII), Erica Leerhsen (The Texas Chainsaw Massacre) and AnnaLynne McCord (Day of the Dead). According to The Hollywood Reporter, all three have signed on for the flick, in which they'll play "actresses unknowingly cast in a Japanese snuff film."
Which begs the question: how many actresses are knowingly cast in snuff films? Do they hold auditions for these things? I can't say I've ever overheard an out-of-work actor say, "Man, I really hope I get that Japanese snuff film I auditioned for."