''THE NEW KIDS,'' which opened Friday at the Embassy 2 and other theaters, is a teen-age revenge melodrama that is both sadistic and wimpish. It's about a couple of decent kids - a brother and sister, orphans newly arrived in a small Florida town - who are terrorized by the high-school bullies.

By the end of the film, a lot of which takes place in a run-down amusement park, the bullies have been killed by burning, an attack dog, bullets and a fall from a great height. The cast includes Eddie Jones, who plays the orphans' kindly uncle, and some new young actors named Shannon Presby, Lori Loughlin, James Spader and John Philbin, all of whom will one day do better things.

The film was directed by Sean S. Cunningham, whose chief claim to fame is that he directed the first ''Friday the 13th,'' which cost $500,000 and reportedly earned over $70 million. According to production notes, ''Despite his huge success, Cunningham remained hard-working and modest about his career in the film business.'' He should work even harder and, at all costs, remain modest. Orphans' Revenge THE NEW KIDS, directed by Sean S. Cunningham; screenplay by Stephen Gyllenhaal; story by Mr. Gyllenhaal and Brian Taggert; director of photography, Steven Poster; music by Lalo Schifrin; produced by Mr. Cunningham and Andrew Fogelson; released by Columbia Pictures. At the Embassy 2, Broadway at 47th St, and the New Delancey, 62 Delancey Street. Running time: 90 minutes. This film is rated R. Loren Shannon Presby Abby Lori Loughlin Dutra James Spader Gideon John Philbin Charlie Eddie Jones

© The New York Times, 25.02.1983 (Thank you, Susan!)