She looks so much better as Pinkamena, including the dimmed pink color. I prefer her happy, hyperactive personality though.
I think she's cute. She just needs a friend and a hug. I actually like her with a flat, straight mane.
To be honest, in the episode I believe she is one pony. But I always have this fascination of "what if your emotions took on a life of their own?", I mean (to my knowledge) it's how some alter-egos are formed, and even some OC's. So though she'll always be Pinkie in my eyes, I do still hold a great interest in the fanfics (excluding a few exceptions) that show Pinkie's darker self take on a life of her own.
I thought pinkamena was pretty cool loved the hair and I wanted to give her hug ......... But then I found Tumblr.....