I'm unaware of any pitfalls, apart from others disagreeing with your choice in finish.
If you look on some of the more dedicated forums (e.g. the Wam, or Pinkfish), you'll see in there DIY areas what some people have done. Most seem to focus on returning the units to their pristine state, but there's no reason why you couldn't be more adventurous.
Perhaps more importantly is what finish you like. If I was doing it now, I've be more inclined to be a bit more adventurous, e.g. Ferrari red. For examples, go have a search on Meridian active speakers. They are sold in a variety of different colours and might give you a good idea of what speakers could look like.