This is seriously the first I've ever heard of it.
I have the "butt prints" as everyone calls them. I like to wear them for volleyball games. I'm sure not sitting on them when I'm diving for a ball!
But I probably "double letter" fairly frequently because I got a pair of Alpha Phi flip flops and they're so comfy that I wear them most of the time (and it's Florida).
I mean yeah, if you wear letters all over your body, it's going to look silly. But if you're tastefully wearing a shirt and maybe a pair of flip flops, I think it's alright. But I'm pretty uncouth, so...