I dont see any problem with that - if it gives you a good effect, then go for it - I would advise actually trying it in the cloth, just to check that the result is good visually - I suspect it would be the background colours rather than the stripes which would make or break the idea.

If the two backgrounds clash then consider other options, such as having the least vivid of the stripes and no stripe at all alternately. I think having the most distinct stripe and no stripe might be too drastic.

You might try having a colour change in the reveals - if you can get the same colour twice, so across two reveals you get ABAC, repeating across the pleats, it might work, so rather than the stripe in the centre you get the colour change.

I find that sometimes you have to take the fabric and try out the various options, or just make folds which bring different parts of the repeat together until something looks right.