I'm surprised London Overground have allowed all-over advertising so early into the organisation's life. Then again, we've recently seen a London tram covered in advertising, for the first time in many years, and what with the Emirates AirLine and Barclays Cycle Hire perhaps we'll see more widespread advertising and sponsorship deals with TfL. Buses next? (It's been a while since the UEL on the 25 and theatre promotions on double deckers.)
Interestingly the tram and 378 still include prominent operator logos (in this case TfL roundels) unlike the Lycamobile 319 which I believe is devoid of FCC logos.