I assume the reason we haven't heard of this is purely because the movie is crap (3/20) and the only good thing is 808's remix on the soundtrack.
As this was REM's track they are quite entitled to licence it for the soundtrack of any movie, even crap ones like Splendor.
The following also taken from the IMDB website (searching for 'Splender')
Jill Cargerman (additional voice over)
Plot Summary: A promiscuous blonde (Kathleen Robertson) discusses her amorous affairs with the camera, seguing into each romantic coupling...
3 stars out of 20
Kathleen Robertson .... Veronica
Johnathon Schaech .... Abel
Matt Keeslar .... Zed
Kelly Macdonald .... Mike
Eric Mabius .... Ernest
Dan Gatto .... Mutt
Linda Kim .... Alison
Audrey Ruttan .... The Gloved One
Nathan Bexton .... Waiter
Amy Stevens (III) .... Nana Kitty Cat
Adam Carolla .... Mike's Stupid Boss
Julie Millette .... Supermarket Cashier
Jenica Bergere .... Model #1
Paige Dunn .... Model #2
Emile Hamaty .... The Wizard Cashier
Um, this movie wasn't so good. It started out mediocre, before dropping into bad pretty quick. I think Kathleen Robertson was beautiful and played the role right. She was the highlight. She could've easily been over-dramatic and cheesy, but she wasn't. Kudos. She must've learned something from 90210. The story should've been more about the relationship and the struggle to make it work and more sociology, but throwing the pregnancy and that movie director guy into it were just huge, uncreative cop-outs in telling the story. The writer should be ashamed.