Just saw this ad on CL. This is a different pic though. . . the first pic it was real obvious that the guy had something tied around one of it's leg. You can see the green twine hanging from the bird on this pic. http://sandiego.craigslist.org/csd/pet/1692915679.html
I would say not a good idea. You can't control the environment or the chicken for that matter. I see the potential for a lot to got wrong.
No because it can't get away if a predator comes and it could injure the leg if the bird freaks out. The only time I have ever heard of tying or staking a rooster was for illegal things that I shall not mention.
Sometimes people tie their roos in order to protect them from fighting each other or to keep them from breeding. It's not necessarily for evil intent. There are safe ways to do it where the roo is very well cared for.