Very cool!

Word to the wise: red on white represents the particular Palestinian liberation organisation that is on the Australian government's no-no list.

There isn't a precedent for it as of yet but the government is cracking down hard so if you intend on doing things in the grey area (or beyond that), I'd advise against doing so while wearing the red on white because if they really wanted to they could probably use their dragnet anti-terrorism legislation to throw the book at you (especially if you have posted anything under accounts tied to your legal name that could be considered evidence.)

After all there is no precedent until they turn someone into the precedent, so it's best to avoid unnecessary headaches imo.