Not a big fan, but then it does help those with poorer eyesight.
Yes we do it
In the 2010 Mid Am the setup guy takes a crew member out and painstakingly shows him how to do it, spends probably 3-5 minutes painstakingly doing an adequate demonstration, with a detailed explanation on how to get it right, complete with some fancy tools to avoid mess and speed the process.
The crew member said nothing and nodded approvingly.
On the next green, the crew member simply grabs the can and paints an absolute lazer job on the cup without the benefit of any aids or tools, in less than 30 seconds.