@Switch Blayde
True. And I believe that's what breaking the 4th wall is. When a character starts talking to the audience. It happens all the time on "Modern Family."
Actually, this is a modern misunderstanding (or possibly TV Tropes). Properly speaking breaking the fourth wall refers to any situation where the fiction recognizes the existence of or makes reference to the real world.
For example, when you see a destroyed star destroyer in the background of a space battle in Red Dwarf, that's breaking the fourth wall. A ship from Star Wars has no place in Red Dwarf, it's there as a joke for the audience, but it takes the viewer out of the fiction they are watching to think about the greater genre.
Having a character or narrator talk directly to the audience is a subtype of breaking the fourth wall called "direct address".
To the OP's question, breaking the fourth wall is fine, depending on your tone and genre, but it's often looked down on because it's a bit clumsy. Outside of comedy they are better ways of breaking the fourth wall without also interrupting a story's flow.