Those two colours ara a lot nicer than black and red!
IMHO a black Jag bass looks much better with a b/w/b pickguard. This pic is from a Jeannie Pickguards eBay auction page:
I have one problem with the Jag. The J pick ups. They should have made a nice P90 like cover for the pick ups. Or even better: Chrome!
I really can't see the appeal. To me the switches make it look cheap, and even if I could get over that, I agree with Chris that the J pups don't look right. If, on top of that, it hums, well, I just don't get it.