I originally thought that same thing about the painted edge of the fingerboards, but I'm starting to think otherwise... and I've even collected some photographic samples of this strange phenomena for your perusal!
Check it out- Exhibit a) this (supposedly original) pelham blue EB-3 was done the same way:
Exhibit b) a Kerry green Firebird with its fingerboard binding panited(!) (gotta squint for it!)
Exhibit c) my all time favorite EB-3, also painted in the same manner:
Exhibit d) do you think a cherry custom finish would be an exception? Well, heck no!
I still contend that its a strange move - to finish the side of the 'boards like that - but I theorize that these might all be factory finishes. I was OCD'ing over this when I made my shameless BacH NR clone, but could not bring myself to paint it that way knowing that it would wear and look crappy over time.
I'm no expert, though, just obsessive. What do ya'll think?