People do celebrate on that day, but we call it "Pi Approximation Day". 22/7 is a popular approximation, but only to 3 significant figures. 22/7 = 3.14285.... pi = 3.14159... So celebrating "Pi Moment" at 1:59AM on 3/14 is the way the serious geeks do it.
Also, to address the subtext in the original joke - if your friends don't get it, get better friends!