Aha, yeah, that does look quite nice. I haven't done a wifi project in a while, but the last one I did [1] I nixed using a wifi chip itself since they didn't have enough PWM outputs. It seems like they've gotten better enough that I could just use the one chip to make my wifi lighting projects vastly simpler.

[1] http://www.instructables.com/id/Ultra-bright-LED-Color-Chang... (things have come a long way since 2010!)