I LOVE that house! That's so awesome--I'm really, really anti-color-code/neighborhood association, and if I wasn't a renter, I'd probably try something crazy like that. Maybe a mural of the mascots because we're just green and white...or maybe a happy shade of flourescent green, ha ha ha.
Seriously, the world hunger and AIDS bit needs to go to that house's neighbors. If you're proud of your frat, why not show it?