Great idea. A protest itself is a lot like a reality show anyway. There's a lot posing and performing for cameras. With MTV involved, there will be better editing and more poking into the details of the motivations of individuals and the interpersonal friction. As they say on in the "Real World" introduction: find out what happens... when people stop being polite... and start getting real. Scoff if you like, but I bet it's more real than what we get in the news.
And, MTV? If you want some protest vibe for your show, how about "Real World Madison"?