No. It's Arcady that has the huge problem with Avalanche. While I would agree that they are a bit brazen and exploitative of the female body image, I don't find that as offensive as actual depictions of nudity.
Also unlike Arcady, I can separate the content from the tacky packaging. I recognize that Mongoose does some good work despite that fact I really think their artwork is pretty brazen Arcady won't freakin' touch an Avalanche product.
That said, when I have commented on Avalanche's artwork, people don't moan about it the same way when I mention the same sort of thing about Mongoose's interior artwork. I wonder why that is? I guess perhaps for the same reason I had a problem with the old Bard Games' Arcanum cover -- regardless of whether or not I liked the cover, I felt self conscious carrying it around.
Well, this is probably flame territory, but that's my story and I'm stickin' to it.