If you join at stage 4 and stay at that they are cool with it.
BUT, if you join at stage 4, feed (hence going to stage 1) then go back to stage 4, their attitude towards you will reset and they will attack you like they never knew you.
I know this because it happened to my vampire.
Also, know that before joining them they WILL be hostile, so you must calm Faralda in order to converse with her and join.
crap. I have been trying to feed as little as possible. My vamp character has been one for 14 days, and only fed twice. I was hoping the college could be a place i could buy/sell stuff, even at stage 4. Looks like that's not going to happen, since i joined the college, before i reached stage 4.
Looks like if i want to keep playing stage 4...ill have to sneak in if i want my stuff in my wardrobe...as well as doing enchanting/alchemy.