When I first tried doing this install last week I got the same rainbow colored screen. Make sure that you are going through the start up steps listed on the site as well to prepare the drive by formatting and installing as stated. After that, I have no issues with the startup.
I'm assuming that as a bundled hardware solution (DAC & Remote, optional LED displays) this would be everything you were looking for? I know you mentioned that you limited access to retail, so I'll readily offer up that I haven't used this or can endorse it.