Yes, I recently did that exact chestnut ink trick.

He looks really cool when ranked up with a few knights. Here's how i run him:
Exalted Champion of Khorne
Axe of Khorne
Armour of Damnation
Juggernaut of Khorne
I find that Chaos Lords are over-priced and overkill. Way too powerful. (for the slower folks out there, i use this guy in WH fantasy)
One thing i consitered before i painted him was i almost painted the juggernaut black, but thats not very khorne-like.
