I'm not familiar with the fan controller you linked. I use this one...photo below.
Newegg.com - NZXT SEN-001LX Sentry LX Aluminum dual bay fan controller
As for the lights, well, that's just a matter of personal choice.
Just remember, most of these fan controllers are only good for 10 watts per channel, so be sure to check your fans before connecting them.
What's the other panel on the front?has usb ports i believe