Well, I don't know if I'm adding anything to the thread, I came here hoping for a definative answer.
When I was in college (High School for those from the US

) I had a friend who had been learning Hypnotism. He did a couple of "tests" to see if I was suceptible. I played along and he showed me a few things.
I felt in a deep state of relaxation, but nothing I couldn't achieve at home by myself without any knowledge of hypnosis.
Fast forward 2 years and we had a stage Hypnotist come to our University (College) for one of the student nights. The Hypnotist had asked for volunteers and I said to my friends "hold my camera and film, I'm gonna get up on stage and take my clothes off"
Once I got on stage there must have been about 20 others there and he said we were going to do some simple things to get started. He did the same "tests" my college friend had done on me under a theraputic pretense. I knew exactly what I needed to to to pass these tests and when I opened my eyes at the end of them, sure enough I was one of the few still up on stage. The others had been told to go and sit down.
From then on I was free to do exactly what I wanted. They told me whenever I heard certain music I would strip and from there it was a rush to get as many clothes off as possible before the music stopped (hey, I was having fun ;D) They obviously had a level of nudity that was acceptable, and I made it my goal to breach that without blowing my cover and being told to sit down.
However when it came my turn to do something I didn't want to do (I just didn't participate) he came over, gave me the "You are feeling sleepy, deeper, deeper" stuff and I sat that exercise out.
Afterwards my friends came up to me and said it was hilarious and asked if it was "real" I told them I was in no altered state, and when they didn't believe me showed them a section of video where I was giving them the thumbs up as proof that I was my normal self and in no altered state.
I will say that I had a lot of fun, and so did my friends, but I felt absolutely nothing strange or no compulsion to comply. I guess for a lot of people that get on stage the fun is in making people believe that they were under and doing stuff they wouldn't normally do. For me, as a skeptic, the fun was in letting people know that I felt nothing and that I was still willing to do that stuff.
Anyway, that's just what I think.