Great question. That was my concern as well, regarding the website's photos. I've heard of the muted tubes having slight color variations on certain runs.. However, I feel like I did really well on this one. It's pretty darn close.
So to answer you no it has not been painted. It's pure titanium. I think CC bead blasts them or something to dull the shine which gets it very close to an H2O/NP3 match. Even if it was cerakoted it would still not be a 100% match to NP3 but again close. Unfortunately, they no longer plate Titanium with NP3.