IIRC, Flambeau did/still does sell a whitetail decoy with flo orange instead of white.

Based on what I've read on deer's ability to see flo orange with their dichromatic vision, they see it as a yellow, along with many many things in their world (atsko snoseal has a bunch of good info on deer vision on their site), PROVIDED the flo orange isn't treated with UV brighteners, which glow blue to them.

Provided you can find a flo orange paint without UV brighteners, I don't think it will detrimental...