It depends on whether or not you will ever hang anything over the console. If so, I would go for subtle; if not, do whatever you like. If you go dark, it will really stand out; is that what you want? If you want subtle, maybe a white like your trim and stairs.

First, love the gold ceiling and love your chandelier!
As for the stencil: If you use the metallic over your current wall color, you will have a very subtle treatment that will look diff. from diff. angles. If you use red, it will look similar to the sample you posted. Which is beautiful, but your foyer seems so calm and peaceful, the red may be too jarring.
I do like the sound of the green and gold, as well as the Stuart gold. But you really never know until you make that sample board, tack it to the wall and look at from every angle. In your case, that will include looking up from your foyer!
Will your base coat be a flat of eggshell or?
Try doing a google search of damask images, you may find some inspiration there.

I dont know about which colors would be best but you may have been referring to my post. I used this stencil in my bathroom.

I have seen stenciling done in high gloss on matte paint and even though I don't like glossy anything, it did give a nice, very subtle effect. I've also seen rooms striped the same way.

I think red and yellow in a pattern like that is going to read "I'm trying to go Moroccan" even though it's not a true Moroccan style. Agree with previous post about your house (so far) seeming so calm & subdued -- a red & yellow stencil might be very jarring.

Can you take a picture of the niche head-on? That will make it easier to do some Photoshopping for you and give you a better idea of what it might look like.

I personally would go subtle. I suspect some day you'll want a tapestry or wall hanging of some kind over that (or any) table there, with a bold pattern your choices will be more limited than they need to be.

Love the chandy, btw. I was :-: close to getting a smaller version for my mudroom entrance.

Thanks for all your feedback. I really appreciate it. I've made way too many decisions in building this house, that I think I've lost my senses! Yes, eclecticme, I was copying your stencil. I love it. Ok, I think I'm leaning toward stenciling over my current wall color. Paintergirl, I know I should do a test board, but I, unfortunately, don't have the time to be meticulous, thorough, etc. I just wing it and hope it works out. It works out most of the time. Of course, other times.... I'll try to take a shot head on. It's a landing though; so, it's hard to stand right in front of it and get the entire niche in the picture.

I think it would look amazing with a black stencil on the white wall. You could do a light gold glaze on top of that to add interest and soften the look. Of course, you would do that if you want it to be a piece of art unto itself and not a backdrop to something else.
I don't think it will read noticeably enough from a distance if you do it over your regular wall color and use the gold paint. Since it is upstairs and will often be viewed from below, I think subtle will end up looking washed out and too timid. If you are going to the trouble to pick it out, buy it and apply it, why not make it worth your while. The extra effort is the part that will send it to another level.

I like contrasting colors on walls. I think red would look awesome. It would basically be the opposite of the photo that you have up, in the photo red is the background and gold is the stencil color. Although you cant tell from the photo, my walls were beige. Its what was up when I bought the house. The stencil was done in a dark brown. I love it. I used the same stencil previously in a silver tone that blended more with the wall color. I didnt like it. And, its alot of work for something sooo subtle. I cant wait to see photos when your done!