For all its confectionery imagery, Christina Ricci scene-stealing and the few other things Speed Racer gets right, it still faces a box-office false start that could make Leatherheads look like a hit in comparison. We sketched a few of the hurdles here yesterday (number one being its own studio's resignation to its underachievement), but at this point there's only one that counts: Larry and Andy Wachowski need to climb out of their hole.

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We have no idea if the "newly released photo from a rare public appearance earlier this year" posted in an item at Rated-M.com (as excavated by Cinematical) is evidence of anything but reportedly transgendering Wachowski brother Larry's predilection for dangly earrings and sassy bandanas, but the blog claims that his much-rumoured journey towards womanhood is now complete, a transformation that has obvious implications for hopeful 2008 summer blockbuster Speed Racer and the way the directing duo's names will be listed on its one-sheet. Says Rated-M:

The duo will now just be known as "The Wachowskis", dropping the "brothers" part of their name. It is expected that Larry, now called Lana, will actually speak to the press about this for the first time, but not until after the Speed Racer film is out. The current feeling is that his sex change could hurt the family image the Speed Racer film is going for.

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Yesterday, the internets were ablaze with rumours (well, really, one rumour) that allegedly gender-shuffling Matrix co-director Larry Wachowski had finally completed a long-whispered-about sex change, opting to spend the rest of his life as a woman named Lana who would haunt the dreams of every embattled publicist unlucky enough to be assigned to subsequent Wachowski Family films. Troubled by the swiftly spreading report, Fox 411's Roger Friedman put in some calls, and today is satisfied that Larry is still happily beschlonged:

On Wednesday, I had lovely chats with people at the sound studio in Germany where the Wachowskis have been making the live action version of the Japanese cartoon "Speed Racer". The folks I spoke to got quite a kick out of the whole thing.

I asked one man in building operations, "Have you seen Larry lately? Does he have breasts now, as rumoured? Is he wearing a dress, wondering if it's making him look fat?"

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