First of all, Frudua is a pimp. That guy really knows his stuff.
That said, yes, it's a common mod on clear coated maple necks, and we usually lightly go over the back of the neck with 0000 steel wool. Most people don't do it on painted necks because of the drastic color change. Even if you were to buff it back to a glossy finish, it still wouldn't look like it did when it was stock. On top of that, you're going to lose resale value if you ever go to sell it. Is it a good mod? Sure, if you like that kind of feeling. It feels different, so not everyone will dig it. I'd recommend trying it on a cheap guitar before you go and do this to something you really value. Also, if you do this, I recommend looking at how ESP masks off their necks near the body. Try to mimic that angle with painter's tape, as it'll look a bit more professional. Check out back pictures of the ESP M-II NTB to see what I'm referring to.