(WORLD'S QUICKEST THEATER FESTIVAL) You know something is wrong with fringe theater when seven plays written, rehearsed, and performed in a 24-hour time span are more entertaining than anything else you saw all year. But never mind. This is spastic, bleary, high-stress fun, and if you miss it tonight, don't worry—they do it all over again tomorrow (24+24=48, you see). This session's nocturnal writers include Wayne Rawley, Keri Healey, and Stranger Genius Sarah Rudinoff. Now at a guilt-free new location! (Broadway Performance Hall, 1625 Broadway, 325-6500. 8 and 10:30 pm, $14.48.) ANNIE WAGNER