I apologize for the brevity of my previous comment. One should never write comments when being in a bad mood.
However I never liked it, but I am lacking a better tool for that purpose. My sites and pages do good in the major SE's though, so obviously using that technique did not raise a black-hat flag, or at least did not push me past the threshold. But I don't know what multiple display:none instances might cause.
On the other hand display:none is a pretty old black hat technique. I'm sure there's more sophisticated ways today, so maybe the SE's are a bit more lenient with it nowadays? But then again - what better to stop wannabe black hats dead in their tracks as to severly punish the oldest tricks in the repertoire?