I must admit, I cringed a bit when I saw this makeover. MWT and I have installed wooden floors and we've hired people to refinish 100's of square feet of them in both the homes in which we've lived. Now, it's not that painted wood floors can't look amazing; I'd just reserve the act for floors that are way beyond salvation. In this case, the 'before' floor wasn't the prettiest of hues, to be sure, but the 'after'...I'll let you decide.
You can read more about this project over at Design*Sponge.