Nope. Was a little embarrassed when I first started watching (and liking) it, but quickly got over that.
As with all things I like, I don't normally bring it up unless someone else says something about it, then of course I'll join in.
As for reactions, I haven't really had any bad reactions about it either. Most often, when someone I know first finds out I like FiM, the conversation will be something like:
"Hang on, you like that show?"
"Yeah? It's a good show."
...
"Alright then."
Then continue on as normal. Only a couple times have I had some backlash from a friend about it, first when he first found out, then a little later he jokingly brought it up again, then it was just accepted.
I guess I could just be lucky in that regard, or just hang around the right people. Either one.
Do I think other people look down on me? None of my friends look down on me for it (a couple of them even started watching it, too). Acquaintences who find out often don't care either since I don't make a big deal about it, and the one or 2 so far who did turn it into some big deal quickly stopped caring when they started realising I don't really care what they thought about it. It's why they're just acquaintences and not friends, after all. XD