I say go for it.
I personally like to keep as much of the original everything as possible. Davey, my Davis NVF, came to me so rusted that after a healing bath in Evaporust the tops of the throat and needle plates where badly pitted and caught on fabric, but I really didn't want to grind down the surface because much of the original engraving was left and the plates still fit. So I did the only logical thing: I covered their tops with heavy packing tape! Original and now smooth as glass
But those aren't my machines and it's not hurting anybody, so if someone wants flames on their Singer transverse suttle or a canary yellow White, well, OK. It's a little odd but I've got a mohawk & tattoos and listen to U2 so I'm not one to judge odd mashups.
As for a business name what about Hot Rod Stitches or Repainted Relics?