I don't mind it. It looks way better in black where the strange lines aren't accentuated by the split colours.
What I don't understand is why they bow the top tube. It looks like it is so the strength is retained in one piece right down to the bottom bracket, however one of the main problems with a 29er is the limited standover. The standover halfway along that tube would be fairly high. They state it's 745mm for a large frame, but I suspect that measurement is directly over the BB, not half way along the top tube where it should be measured.
I've seen way worse designs than that. It's very "flowy".