In one of the older Star Trek Tactical Combat Simulator (yep, that's what it was called!) supplements they mentioned how the Federation stopped using white paint and went with the plain white steel hull material due to cost and weight.
The article was excellent (a bit tongue in cheek) and explained how much 1000's of gallons of paint cost, how expensive it was for the equipment and man hours to paint it on and how heavy all this paint was. It followed through by going through the maintenance schedule costs for maintaining the paint (which got burnt / chipped / holed / flaked regularly) and how much space the paint physically took up to store onboard a ship, not to mention that whole fleet tenders could go out loaded with nothing but paint - a fairly useless cargo all things considered and another horrificly expensive run for cosmetics.
The EA probably came to the same conclusions and decided that there was no point in all of the expense and hassle just to paint a ship...