Okay. Yes. It is a bleeding billboard. This is making the rounds on gizmodo, youtube, et al. for its sheer gross-outrageousness yet I'm more interested in the interaction design. The messaging is about how rain in New Zealand causes accidents. This billboard actually reacts to said rain. That's an insightful way to do advertising and is a great example of taking typically digital ideas of interactive out into the analog world. Love or hate this concept, one has to appreciate the double entendre use of ambience. It's visceral.
Also I have huge respect for they way BBDO/Colenso pushes the medium with TV and this is a great application of a "big idea" to a tired format.