Perhaps ground sharing can work best in England / Wales when the two clubs have adopted different codes.
Stockport County and Sale or Coventry City and Wasps might beg to differ on that one - certainly the football fans aren't fond of their cohabitants (former in the case of Stockport). Bristol Rovers and Bristol RFC also, although the animosity there comes more from the rugby club.
It has amused me that since the re-named Bristol Bears moved to Ashton Gate, their kit has started to incorporate increasing amounts of red into the traditional navy and white. I suspect the owner might baulk at trying to introduce navy blue into Bristol City's palette though.
Having been on a stadium tour of the Allianz Arena when 1860 Munich shared it with the other lot, one thing that struck me was how drab it looked due to the grey seating and complete lack of any internal colour. Not a problem for a full house when the glory hunters turn up to watch Borussia Moenchengladbach hand out a lesson, but when 1860 played there in front of crowds of 20,000 it looked pretty dismal. I don't know if it's developed more of a red tint since 1860 left.
Ground sharing can work but it helps if a) both teams can fill the ground and b) both can feel at home. Some Italian grounds do this by having one end as the 'home end' for each club, so away fans would be in a different end depending on who they're playing. That does require the stadium to have effective segregation measures at both ends however.