I tried it on in Monte Carlo recently and while I think the bag is innovative, there is a bit much going on. To wear it as a belt bag, two leather flaps with slits have to be untucked from the back of the bag. Then the separate fabric belt strap has to be looped through both slits and locked in using a snap-button on each end. It seems rather fussy for a convertible bag. I guess there is no other way to do it since tucking the entire strap into the bag will make the bag really awkward and bulky. Maybe it should just come in a belt bag style, because using the bag with the long detachable leather strap makes it look like a man is using the women's version with a longer strap.
The ones with the polished silver FF logo look quite feminine. The metallic pewter-colour one comes with a grey rubberized logo so I think it works a bit better.
Unlike the men's Peekaboo, I don't think enough was done to the design to alter just enough to make it very masculine. Perhaps the FF logos should all have been leather-covered with the exact same colour as the rest of the bag so that they are still there, but more discreet.
The Selleria leather of the bag is awesome, though.