Wow what a bag of crap, please also note the E39 pictured, the BMW badge on the back is now a weird round M badge, the wheels ...well don't even get me started on those and then what looks like some sort of crappy fairing above the rear window ...and a sharkfin, which most likely doesn't even work. Then we have M3 style chrome slats on the wings and M5 wing-mirrors, and this is just what I can notice in those pictures ...what a mish-mash pile of junk, sadly pretty much exactly the same seems to have been done to the blue car too.
The exhaust it's self looks dreadful, like you all said, like it was made by Blue Peter or something.