Most people that do wall mounts have the cabling go out the "backboard". That way your cable mess is between the wall and the backboard.
Can you provide a pic of this? I was considering punching a hole through my wall, put a rubber grommet on it (or whatever), and then having the cables coming out behind the monitor or under the desk.
Some cable tubing you can get here. It would do wonders for it. I like the idea though!
Put a painting over that wall mounted monstrosity...