DMX + Shiftbrites

I would like to control a large set of Shiftbrites (or simmilar lights) using DMX512.

My initial plan is to build the arduino DMX receiver http://blog.wingedvictorydesign.com/2009/03/20/receive-dmx-512-with-an-arduino/

and then process the values received to send to the shiftbrite string.

Any reason this would not work?

My backup plan would be to receive the DMX values on a PC and then have software translate them to serial values I can send to the arduino.