Back in the day you would hear that this meant there was a drug house nearby, or a gangster initiation had been completed, or what have you. I think it was really just the challenge of seeing if you could get the shoes over the lines, because they're pretty high.
Well, a whole bunch of people could, and there's basically a shoe store hanging above Venice right now. As I don't know what it really means, I'm taking it as a cool way to remind us all to aim high every day. And get out there and have yourselves an awesome weekend under these azure skies!