I've used this on a previous player that I had before MC. I found it to be really awful for me. It's extremely distracting and draws your eye, as the display changes (becomes colored) as the song advances. It kinda ruined the music for me as it was telling me in advance what was coming up in terms of song transitions, etc.
I kinda wonder why anyone would think this is helpful, but let me not focus on that. Instead I'll say that I would expect this to be an option if it ever gets implemented. Meaning that you could easily turn it off, which I would do immediately.
Thanks,
Brian.