I use crested arrows exclusively. I do believe, however, that deer are sensitive to the color white. So, I use a detachable quiver, and cover up the fletchings with a camo cover.

The only arrow with visible cresting is the one on my string, and I've had no problems.

I bought a Fletchkover from http://www.whitewatercrk.com/fletchkover.htm to keep the white cresting under wraps.