Revealing mistake: When little Jack is lying down in his crib in the Byrnes' room, after Jack comes in to rest from the football game, you can easily tell this isn't a real child but just a doll. The hair is wrong and there's no movement, like breathing. (00:55:05)
Revealing mistake: When they show the bus with the college girls going by, as they pan over the driver, you can tell there is no door on the passenger side. You can see all the way to the ground and road of, what appears was a blue screen background added. This is made even more obvious by the fact the girl driver is not wearing a seat belt, is supposedly flying down the highway, and if this really was a huge hole in the side of the bus, it would be extremely dangerous as she could fall out. There also seems to be some sort of white mattress pad right next to the driver. (00:14:05)
Revealing mistake: When Jack tells Greg to throw the brick at the RV, when he picks it up you can see it's some kind of spongy material.
Revealing mistake: After Bernard breaks the toilet Greg lifts up the baby. From the angle shot from behind, note the baby's fake hair and you'll notice he's been replaced for a very obvious dummy.
Revealing mistake: When LJ has his hands stuck to the bottle, you can see a material actually holding his hands on the bottle.
Chosen answer: It doesn't exactly erase your memories, rather it causes a form of apnea and drowsiness, causing you to be semi-concious or not fully awake, similar to blacking out. This causes you to not remember events that took place during your dosage and during the course of time it is in your bloodstream. Since it puts you in a physical and mental state where the easiest things to do are all you can manage the mental strength to do, it is used as a truth serum, since lying is much more complicated than telling the truth. Because of these properties the drug possesses, higher doses can also be used for Euthanasia, Medical Induced Comas, and even Lethal Injections.
Jazetopher