Private versus community decisions on house color

My lovely residential neighborhood has a charming mix of architectural styles.  No two are exactly the same, but the homes all still work together nicely. Then, there is the lime green house. Not even kidding. If I could get organized enough to walk by with my camera sometime, I will snap a shot for you to see. I've never had the guts to actually approach the owner of the house to inquire about his or her "unique" color selection, but I would bet the other neighbors have voiced their displeasure.

So seems to be the case with a home in Atlanta, Georgia that is listed on the Historic Registry.
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Here's how the Henry B. Tompkins House looked in the historic registry. Designed by Atlanta architect Neel Reid, it's an excellent architectural example of Georgian Revival architecture.
Limestone stuccoed; 2 stories modified rectangle, hipped roof sections, interior chimneys, slightly projecting front center exposed limestone pedimented section featuring a single entrance with ornate transom flanked by stuccoed rusticated pilasters and surmounted by open segmental-arched pediment with cartouche, exposed limestone corner pilasters; rear formal garden with pool and garage.
 Well, until it's new owner opted for a updated color palette...
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It's been lovingly restored with a bright orange coat of paint across its exterior. T. Ruben Jones, the 80-year-old new owner, says the exterior color, Maple leaf by Behr, is meant to replicate the hue of an Italian villa. It will fade, he assured. (Is this true? I thought the whole point of paint was selecting a color that wouldn't yield to the pressures of mother nature and her elements. Any thoughts on this?)

This raises an interesting question that is postulated in an article I happened upon recently:

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“Where do you draw the lines between private property and the good of the neighborhood?
Do owners of historic homes “have a duty to the community to maintain them in a fashion that is not offensive to the community?”"(source)

Where do you stand on this issue?