If you put your phone in airplane mode before the time the alarm goes off, it presumably won't be able to go off. I don't know if our will still go off later. At worst, I guess you could uninstall it (and possibly reinstall later).
At the moment, a viable cheat is faking location on your mobile device.
What we thought of doing was your submit someone you wouldn't want to tweet and then have an account (the punisher account) tweet them the message saying it was written by you.
When we were at university we had it running on the machines there and it would just wipe your home directory or email your professor - harsh times but good times.