I absolutely love this idea and have implemented it in my own house (once I finish the project, I'll post some pictures). Today's broad range of wood flooring offers so many design opportunities to use the materials in ways that you might not expect. The pictures below show the use of reclaimed floor being used as wall treatments, on ceilings and as an accent material on other architectural features (columns). It's a little daring, but adds texture, color and warmth that just isn't achievable by paint. 
How might you use wood flooring in your house for something other than flooring? Let your imagine run wild!