In this work, Eliasson is perhaps expressing his dissastisfaction with the materiality of art, and the notion that an exhibition is about putting art into a space. Instead, he seems to be interested in using a space as the actual artwork. In this instance, he reconfigures the space using mono-frequency lights to transform it into a room filled with a single colour. I find this quite a clean, minimal and slick method.
Having seen this work in person earlier this year at the MCA, I can say from experience that it has a disorienting affect on people within and outside of the space. In the pictures, you can see how the lighting drains colour out of anything within the space.