The actual wording of the regs and the law say ALL items for children under 12. There has been a lot of non-professional interpretation as to whether this includes wall decor and wall art. References that have been given refer more to wall decor in adult areas - bathrooms, etc. The question about children's wall art and wall decor is still up for clarification by the CPSC and/or Congress.
At the moment with the Stay - as long as you know that your materials are safe under the law (product labels, materials manufacturers certificates, etc) you are fine.
One of the key points that has come out from CPSC since 2/10 is that who an item is marketed to will be used in making a determination as to its inclusion. If you are marketing and selling to adults to hang your art on a wall that MAY be enough. Kids don't generally come into physical contact with the art hung on their walls.
Sorry to be so convoluted but that is the main problem with CPSIA - it is convoluted to the point of rediculous.