Grey is in my opinion synonymous with boring or unnoticeable in Norwegian, possibly due to terms like "grå mus" (grey mouse, an unnoticeable person lookwise) and "kommunegrått/musegrått" (grey blonde/mouse grey colour of hair). It isn't terrible, but some might see it as a greater burden than others. I think there is a difference between names that come from words still used today and archaic words. Words that where used and meant grey 1000 years ago wouldn't bother me as much.
Part of the problem for me is the sound. GRAW doesn't sound nice to me, but Gro does.
What matters most to me is that the name doesn't burden the child in the languages they will use in their childhood and teens. If it means something bad or sounds like something bad (depends on how bad) in a language they don't know, I agree, it's not a big deal. There is of course a dilemma if we where to move to a different country where the name stands out and starts burdening them. I wouldn't want them to feel resent towards their name. I hope that I would be able to prevent that and make sure they understand the value of the name in its language of origin.
Jüde and Tod does mean jew and dead in German. Jude is pronounced differently from Jüde, but not sure if it's different enough for the germans not to take notice. Either way, as you said, the meaning isn't life changing.
Culture definetly does have an impact on what people deem apropriate, when it comes to naming their children :)
I think the other views you have mentioned are very interesting! I imagine, if people grew up with other people with names with "bad" meanings, they wouldn't see a reason to bully.