Thoughts
1) This is clearly not a technology for mass production. In the video they clearly say it is a good way for a person to fabricate what they need. You wouldn't be able to make this economically viable for commercial uses because you would lack economies of scale, specialized tooling and the inputs neccessary to operate on a large scale, and therefore would not be able to be competitive with established manufacturers who would have substantially lower cost input and much higher output at lower overall cost than you. However this is a perfect rig if you wanted to fabricate parts for your self (see my second point before criticizing)... perhaps replicate things like AR stocks, grips, quad rail guards, cheek risers, trigger guards, buffers, shims, and etc.
2) You could EVENTUALLY make firearm parts that could handle the required stress levels needed in a conventional firearm. In the video it stated that version 1 was able to replicate many parts for version 2. Version 2 was able to improve this ratio again and manufacture another reprap. As the technology replicates itself, they are introducing more materials that it can work with and thus expanding the capabilities. They said that the next version would be able to replicate circuits and electronic parts needed, thus increasing the % of replication. Part of the evolution of manufacturing (especially the rapid technological change we have seen in the last three decades) has come from our ability to use tools to make more refined tools, which in turn allow us to make even more specialized, refined, accurate and durable tools. If you look at project CNC kits, many people are able to start creating more advanced CNC equipment... by fabricating the parts they need using their current equipment. Replication in manufacturing is faciniating as each endevour allows us to improve effeciency and increase scale, quality, quantity and etc.
3) If you don't like the colors RIT dye (sold at wallmart) can turn most plastic/polymer different colors. I am going to test it on some magpul parts to see how effective it is. I know it works on many light color plastics, and you can use the bleaching RIT to ligthen up dark plastics/polymer.