***Always try your finish on a sample before using it on your work. Especially, if you don't have any experience with the product.***
Never spray raw eps blank with common spray-can paint. The spray-can paint contains acetone, which dissolves eps foam.
Spray-can paint contain solvents and propellants such as acetone, propane, xylene and toluene. Using spray-can paint, even on the sealed surface, may cause bonding issues.
Seal with epoxy resin and micro-balloons first, and let cure. Then you can spray.
If you air-spray a water-based paint, such as interior latex paint, using a compressor or air-less sprayer you should have no problems. Use flat or matte finish for best results. Pick out a color from the huge selection at Lowes or Home Depot, and ask them to mix up a "sample" for you. It'll cost about $6 but it will be plenty of paint for your purpose.
Avoid using paints which are "scrub-able". These contain silicon which will cause a gloss coat to "fish eye", and will likely impact bond if laminated over.
Some builders will use spray-can paint over the fully laminated and sanded shell, and follow this with a spray coat of acrylic floor finish. Others will decorate laminated board with Posca Pens. and finish with a coat of Krylon clear matte. Artist Drew Brophy is a master of decorating surfboards. Check this out for some ideas
http://www.surfline.com/video/webisodes ... ophy_21964
***Always try your finish on a sample before using it on your work. Especially, if you don't have any experience with the product.***