I originally painted my new AST manifold with VHT. After a couple months, it was starting to show rust through so I sprayed over it with the Krylon exhaust paint and it works!
I know, I know, you're asking about the compressor housing. Well, I sprayed the ATS manifold in February and it was cold out so it was done after the truck was driven and allowed to cool a little so the paint wouldn't burn. Nothing was cleaned prior to the tough up. Since I was doing it with a flashlight in one hand and going fast to get back inside the house, I didn't tape or shield anything while I did it. (Crude, I know) But I did manage to get a little overspray on the compressor housing and it's still there.
I don't know what color you are considering but you might see what is available in exhaust or engine paint. If I was going for looks, I'd polish it.