So...about last night's Oscars.
Franco was set to host an after-after party at his new bar Writer's Room in Hollywood, and he was a no-show to the much hyped bash.
In what was supposed to rival Madonna's after party, James left event planners stunned when he just didn't show up.
"Apparently he was really embarrassed and not in the mood to face criticism about the [Oscars]," a source close to James tells us.
He may have been slightly uncomfortable at times to watch, sure, but it's not like the program being a total dud was his fault alone.
James tweeted from LAX around 11 p.m. last night:
"It was fun! Have to be back for class."
Still, we're told from sources awaiting his arrival at his bar last night they had "no clue" James decided to go back to New York last night.
Don't get too down on yourself, James! You looked cute, so there's some silver lining?
We've put in word to Franco's rep to get the scoop on his absence last night, but have yet to hear back.