I've used My in my VB.NET projects, and I don't feel guilty about it. I am primarily a C# guy, but until I transitioned my company to C#, we were a VB shop. In my mind, the My namespace is a nice piece of syntactic sugar. Just as I'm not embarrassed to use C#'s coalesce operator and other sugar, I'm not embarrassed to use VB's sugar, either. (To an extent; I won't use the classic VB functions that .NET still exposes.)
That said, never put anything in that namespace. It's Microsoft's namespace, and just as you wouldn't put anything under System nor Microsoft, don't put anything under My. It will cause confusion later on -- if not for you, then for others who maintain your code. Create your own namespace for your own code.
