I picked up (for a steal - couldn't have passed it by) a Schecter Omen-8, which is a lot of fun to play around with. The octave strings give it a huge sound.
I just saw a CraigsList add for a 12-string bass and the seller mentioned doing alternate tunings on the octave strings - 5th/root/octave, 4th/root/octave, major 3rd/root/dominant 7th - things like that. So you effectively play a chord for each note.
I'm going to try tuning root/5th (which is dropping the octave strings a LOT - 5 steps), but I'm wondering if anyone else has done something like this, and how it turned out for them. That way when it sounds horrible I'll know if it's the idea or my execution of it that is off.
A fellow bassist here in The Netherlands uses alternative tunings on his 12 string bass, which he built all by himself. He says he likes it a lot, but tuning and intonation aren't easy. It also requires strings of the right gauge. His site: http://home.online.nl/blablas/bass/mk4/mk4-4++%20details.html
Check out tom petersson of cheap trick, he plays a lot of custom basses and I have seen him play ones strung like in the vid above-no idea how it was tuned though. Thats the most famous band I can think of for ideas on that beast