There have already been a ton of Greeks on the Real World & Road Rules and other reality TV shows.
http://www.greekchat.com/gcforums/sh...threadid=60723
As far as I know, none of them have ever been disciplined by their GLO or terminated for it. The only one who's questionable is Trishelle and it's been confirmed her sorority membership was terminated before she even tried out for RW.