Couldn't hurt to test and see if it isn't a latex-based paint.....
This works to determine if the paint on your house is latex or oil based, too. Just test rub an inconspicuous place with rubbing alcohol. If it is latex it will soften and come off. If it is oil based nothing will happen.
Tread carefully on decas!
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1971 Paramount P-13 Chrome
1973 Paramount P-15 Opaque Blue
1974 Raleigh Professional Blue Mink
1991 Waterford Paramount
Holland Titanium Dura Ace Group
Holland Titanium Ultegra Triple Group