The scene that's not as innocent when seen today (SPOILERS)
First off, I like this movie and have no complaints about the particular scene I'm going to mention below.
The innovative prank that was ultimately deemed rather innocent by the students was the frat prank of the masked guys in the van shooting up the campus with M-16's using blanks (with a few fake "victims" playing along with fake blood.) It must have seemed unimaginable in real life to the writers in 1981 and therefore good for a decent prank scene. However, knowledge of the real massacres at Montreal, Columbine H.S., Virginia Tech etc. may cast a dark pall on this scene for modern viewers; it does at least for me.
In a nice bit of foreshadowing earlier in the movie, the nerdy character "Radish" excitedly babbles on to the chemistry professor about the Charles Whitman killings(The Texas Tower killer) from the 1960's.
"Man was meant to grow, not stop!" -Robert Browning