So to that extent it certainly works. As labels go though I can’t say its one I particularly like. If I’d been shopping for a beer simply to drink (as opposed to “label collecting”) and with my limited knowledge of beers and ales then, on the design of the packaging, I probably wouldn’t have gone for it.
Nor is this a hypothetical situation for I’ve done precisely that a few times in the past (mainly when I’ve fancied a change from whisky!).

Therefore, from a marketing point of view, one would need to balance the immediate visual impact of the label against what it has to say about the contents.
Taking this a stage further, its conceivable that the label design isn’t intended to say anything very much about the content but is actually a statement consistent with the marketing approach typified by both their website and the smalltext “blurb” on the sides of the label (borne out to some extent by the naming of the product). In which case, given the name of the product, I think the colour was a bad choice.

And I’m so pleased by the thought of more of the Village Bike!

So the Village Bike did the trick for you, eh? Well you know what they say about the Village Bike….it’ll be ’round again soon enough.