Interestingly, when I was in the local supermarket last week, I noticed a couple of guys wearing what appear to be "cut offs" made from what were formerly long & baggy Nike shorts.
I've also noticed several other cases of guys wearing cut off jeans that were at least 1/2 way up from the knee and I've been wearing short cut offs for about 6 months now. However I don't get any looks or comments.
As I've said before, just wear what you like (speedos to the pool or short shorts for casual) and eventually diversity will take it's course and that will ultimately set the style.
CD