Paint on machine tools is subjected to many chemicals, including those in cutting fluids and used for cleaning machines, and hot chips. Finding a paint that will hold up to that environment is difficult before you add in environmental restrictions.
http://cimcool.com/newpaint.pdf
"Many years ago, machine tools were coated with lacquer or enamel-type paints that were susceptible to attack by certain chemicals used in cutting fluids." Most machine tool manufacturers now use the more resistant acrylic, epoxy, and polyurethane coating"
CRC handbook of lubrication says something similar regarding machine tools manufactured after WWII.
http://books.google.com/books?id=HbmRTYPdeoAC&pg=PA365
At least acrylic is listed as cutting fluid resistant, in those two sources. But whether it is a special variety they didn't say. Old fashioned acrylics seem to be susceptible to toluene and acetone and, when fresh, alcohol. Acrylic lacquer paints are organic solvent based. There are acrylic enamels, acrylic/melamine, acrylic/epoxy, and acrylic latex formulations.
An old thread here on paint:
http://www.practicalmachinist.com/vb/sitemap/index.php/index.php/paint-advise-machinery-t72430.html
Forrest Addy has made some comments about nothing holding up to chips, such as this one:
http://bbs.homeshopmachinist.net/archive/index.php/t-13489.html
"I use SW industrial coatings for machine tools. Paint where the chips rub and wrenches clatter is strictly temporary. If a neat tidy shop in important to you then an easily touched up paint is the way to go, preferably in a standard, easy to match color."
One difference with regard to VOCs between manufacturers and end users may be than manufacturers need very fast drying/curing time.
There is some mention of acrylic industrial coatings here:
http://books.google.com/books?id=ri6FkY2xvgcC&pg=PA49