well come to think of it, i would structure it like this: since no gi competitions are broken down into three catagories (beginner, intermediate, advanced), then there should be only 3 levels in no gi training. why bother with a belt system if you never use it? that being said, i think once you get badass enough, you should be formally awarded belts, lets say for those who want to eventually train with the gi.... but as far as wearing your rank while training no gi... i have mix feelings on it.
as soid said, yes how ridiculous is it 'i got promoted to brown shirt.' then everyone lines up, and whips you with their shirts instead of belts? doesnt work. i guess for bravo it would work because it would help direct what guys to what classes... who should be in beginner class, and who should be in advanced. plus it gives the new guys something to strive for.