Ha! I should have known this would get different opinions.
I normally don't like toe cleavage. To me it seems to signal an ill fitting shoe. I guess I mostly see toe cleavage when it looks at though the woman is trying to shove her foot into a too small shoe.
However, I have a very hard time finding shoes I like and fit well. In my 20s I simply wore any shoe regardless of comfort level. Now, that I'm 35 and chase three kids all day, every day I refuse to wear uncomfortable shoes.
I have a hard time finding flats. I love flats but I have short and wide feet. Most flats dig into the bone right above where my big toe starts. The shoe I linked above fits well and has nice comfy padding inside to boot. I would be able to run after my 2 year old when he bolts.
I think I'll go with what Angie says and live with toe cleavage because I love the look of the shoe *and* it's comfortable.