Matthias - That color certainly is interesting. I can't say that I've seen too many or actually any M's around with that shade. Honestly, I think the M3 is just one of those cars that some of the less typical colors look great on. Any non-M would look odd and quite ugly.
For some reason when I think of stupid or flash-trend car colors I always think of that orange that Acura put on their CL's for some time.