Mad About Martha

It was only a matter of time before the impish ''I Hate Martha Stewart'' industry, now almost as grating as the Uberhostess it lampoons, collided headfirst with the paper-doll parody franchise. Alas, Mad About Martha doesn't skewer its target with the same dead-on cleverness as the parody magazine. What we've got here is two lingerie-clad cutout Marthas, to dress and distress in a small selection of demeaning outfits: a blood-spattered apron for chicken slaughter, a raunchy S&M getup. There's also a minutely plotted version of that infamous calendar of hers (''5:15 a.m.: Reseed New Jersey''). Heh, heh. C'mon, kids, don't you have anything better to do? You'd almost be better off...mulching or something.