It should work without issue.
One thing to consider is uptime... I've done colos, not for Macola, but for networks that use other apps (MAS200, ACCPAC). In each case we put in redundant ISPs, and used a firewall capable of rolling over from one to the other. For example, one site used Time Warner Telecom. We also advised them to add a second ISP, and after much groaning about cost, they added USLec. USLec was a little bit cheaper in terms of cost/bandwidth, so they used that as their primary. One day USLec lost a router someplace in South Carolina and our client's connection to MAS dropped (the client's connection happened to use that route to get from their site to the datacenter). The firewall rolled over to the Time Warner Telecom circuit, people exited and reopened MAS, which restarted. They continued to use the Time Warner Telecom connection, even after the USLec route came back online.
Another thing, make sure there aren't piddly little things at the colo site you have to be responsible for. For example, if you colo with Time Warner Telecom, they have a generator that kicks in 30-45 seconds after a power failure. They do not supply a UPS to bridge that 30-45 seconds, the client is responsible for purchasing that. I was a little surprised by that.
Check to see what type of backup schedule they employ. I'd be surprised if they didn't, but see my note about the UPS above.
Make sure their aren't exorbitant early termination fees should your client decide it's not worth it.
Check to see if the colo is manned or not. Most things can be done in the data center remotely, but I always feel more comfortable if there's a physical body somewhere in the same building as the servers, just in case something should go horribly wrong.