It makes the most sense for PBA shows and other high-level competition. Like Riggs says, novice viewers see a PBA pro grind out a 210 on TV, and they think their local house hero who averages 225 is a better bowler. They have no idea how different the playing environments are. I am not saying the colored oil will eliminate all of that ignorance, but it could be a start.
For the people who say it's going to make things too easy, I think you are off base. Golfers are able to see OB, traps, water, etc, but they still hit it into those hazards from time to time, right? There is only a small percentage of bowlers who are good enough to hit exactly what thy wan to hit shot after shot, and those guys/gals will be at the tip anyhow. Seeing the oil isn't going to help an ordinary hack like me, and I doubt it will truly help most others like me.