I haven't used it myself, but from an MSDS standpoint it has the same ingredients as the medium viscosity zap-a-gap (but different proportions). I wouldn't expect any CA glue to attack paint. I would still worry about adhesion, though. The glue may stick to the paint, but how well will the paint stick to the plastic?
My guess is that it will be hard to tell the difference between plasti-zap and the green lable.
Chris