I know it will do well. Three days later and the smell of paint is gone. I have other pipes that I've painted with both acrylic and enamel. None have any issue after a full cure. None of the paint has made it's way into the inner walls of the bamboo.
The only substance that has ruined a pipe was oil based varnish, such as minwax. Which did soak through into the burn chamber and stem, and even after a week of set time, altered the flavor. I figured this would happen, but as an engineer, experimentation is everything.
I will most likely never sell/give away a completely spray painted piece. I'm opting for natural solutions and stains. Shellac, which comes from bugs, and approved by the FDA for children's toys, is one. I'm also experimenting with walnut skins, which produce a natural black dye when they decompose, (actually it's more of a chocolate brown color).
For adhesives I will use raw honey, (which is a nature resin), which dries into a nice sealant and a great bowl coating for promoting a cake.