Soooo, I had this conversation the other day with a friend about this ... isn't doing it the copout? If I understand the challenge correctly, doing the ice bucket thing let's you only donate $10, whereas not doing it requires you to donate $100.
I mean, it's great that ALS research gets money either way, but the way it's set up it strikes me as a convenient way of dropping ice on your head and sending your friends a video about it.