I took mine off and almost always do so. My M1100 is silver with a red frame and I wear a 2005 Suomy Bostrom helmet which is metallic blue, silver, and white with red accents. If the bike or the helmet dont get your attention I dont think a 1x4 inch reflector is going to help.
I took mine off, and put black reflective wheel stripes (black wheels on M696) on. During the day that 1x4 reflector is worthless, and at night I think the reflective wheels stand out more, without being noticeable at all during the day.