I think it really depends


low powered foamie planes and low powered pistol style paint ball guns and sure, its a fun for all event that you could bring the kids out to and is likely a lot of fun in the right setting

bigger planes or higher power paint ball guns bring a couple of things that need to be considered.
- Where is the plan going to crash if it loses control ( I think this is more important here than other scenarios as your physically trying to bring the plane down in this event )
- where are the paintball "bullets" going to land should the miss the plane. with low powered pistols, probably not an issue, but many of our fields are in populated areas, and as your shooting into the sky you need to make sure that there is nothing down range of you. Probably minimal chance of serious injury, but I'd hate for some club to lose their field b/c some little old lady got bombard by paintballs 50 yards away...

personally I think it sounds like a blast if "cooler" heads are the ones running the show....