why assume someone uses sudo and is in sudoers, or that sudo is even present?

also 'install feedparser' could be easily replaced by specifying a requirement for pip, or even runnning 'pip install feedparser' from the function if you really want to do it this way.

better package it properly, write a setup like this http://docs.python.org/distutils/setupscript.html and save a .sh wrapper script in /usr/local/bin, this way you can update the package without messing with setup.py every time.

some cosmetic/pythonic:

    if feedparser.parse(subreddit_url).has_key("bozo_exception"):
        return False
    return True

->

    return not feedparser.parse(subreddit_url).has_key("bozo_exception")


    for post in rss["items"]:
        print "%s%s\n%s%s\n%s" % (COLOR_RED, post["title"], COLOR_CYAN, post["link"], COLOR_OFF)

->

    print ["%s%s\n%s%s\n%s" % (COLOR_RED, post["title"], COLOR_CYAN, post["link"], COLOR_OFF) for post in rss['items']]

;)