I never really minded the fact that Link had earrings in certain Zelda games. Although my opinion would slightly change if you consider which Link should wear them. The Links in TP and OoT looked fine with the earrings, but if you consider a Link like the one in WW, eh, no. Earrings just wouldn't look good as an accessory to his outfit. Like someone else mentioned on here before, maybe when he gets older, WW Link could wear them, but for the time being, no.
So overall, yes, I thought that the earrings were cool. They seemed to add a nice touch to Link's outfit. Although, like I said before, it would depend on which Link your talking about. I'd rather have a Link like the ones in TP and OoT to be the ones wearing the earrings.