Back on topic, I'm in two minds about this.
On one hand, I think they are to be commended for their technology, and if it gets kids interested in space then it's a very cool thing. Of itself, their bright little beacon isn't a particularly terrible thing.
On the other hand, if this can be done cheaply, I am dreading to think what the scourge of our society might do with it. By which I mean the marketers. I won't be happy if five-to-ten years from I look up at the night Sky and see a procession of bright little coloured "Eat McDonalds", "Drink Coke", "Play Lotto" and "Smoke Marlboro" messages sailing past.
Thats where there needs to be global laws to prevent that. It would be considered visual pollution. Much like some councils now consider light over spilling or directed onto someone elses property, light pollution.