I was going to mention two things: one that Naked & Famous has been making similar things for a long time (colored thread that's revealed as fading occurs), and that for an intense high-contrast fade you shouldn't wash frequently, and wash very carefully when you do. And you really shouldn't distress it yourself as demonstrated in the video... that looked pretty bad.
Of course, it seems like these haven't existed long enough for someone to have worn them without washing for a year to demonstrate really nice fades.
And the thing about the other things Naked & Famous has done with colored thread is that they're all ugly - one of them is actually just brown thread, making the jeans look more and more shit-stained over time. Their normal jeans are great though (I wear them myself). Not sure if the scratch-n-sniff idea has any real merit, but it's not that hard to keep your jeans not-smelly despite minimal washing anyway.
Anyway... these rainbow thread ones have the potential to be quite beautiful if you do it right (e.g. don't purposefully distress it yourself... with a stiletto? really?)