Saw a Valencia Orange 1 Series down the dealers and it is a very nice colour indeed!
Reckon it's a good colour for a 330d. If you were spec'ing orange on a 318d then yeah it might be like lipstick on a pig, but on a 330d it's gonna be one helluva 'stand-out' car
PS - yep, Coral Red leather + Valencia Orange paintwork would be a bit OTT (except on a Lambo?) but Cashmere would be a good match IMHO.