I think it looks terrible. All the virtues of the Form 2 design disappears in these colours. I definitely don't mind bright colours, but this was not good.
The worst thing is definitely the logo though - I hate it. It looks really, really cheap. For me, the _design_ of the product is the logo and the brand, the design should speak for itself with no need for logos an such. It shouldn't be needed to put a gigantic logo on it! I'll never wear something like that, and I really don't like what it is doing to the brand. It absolutely makes me lose interest in the brand.
Ok, this will hopefully generate some cash which b&o needs, but what is the long-term effect? If I'm just a snobby idiot and a minority (let's hope I am!), then b&o will be very successful, but if many of their usual customers react that way b&o may have a problem. ...but of course, if they will earn more money by selling this (and quit selling hi-end lifstyleproducts), it is the right move by b&o. New times with new, different customers, I guess.