John, you absolutely should not paint over it. It will come off, maybe not in one piece, but it would be a terrible surface to paint over.
The decks on your boat under the seadek are not in good shape cosmetically. The boat had a different deck covering (not seadek) on it when I bought it in 2005. I took it all off in about 2009. It was very tough to get the glue residue off after the pads were removed. I pretty much had to grind it all off.
After the pads were off I repaired a large area where the core was wet on the stb side deck.
I considered painting the decks with Kiwi Grip or something along those lines, but the top skin which was under the pads had so much crazing in it that I was concerned about how it would turn out. I think it would have required tons of fairing and even more sanding. It was too big of a job for the time I had for it, and would not have been financially wise to pay to have it done considering the value of the boat.
So I laid out where I wanted the seadek panels then ground/faired/painted the areas between the panels. Then I made templates for the other areas, cut the seadek and laid it on. I intentionally used it because it does not use a super aggressive epoxy based glue. I knew it wouldn't last forever and didn't want to face the same mess as before when it came time to replace it.
It turned out great and looked good for 7 or 8 years. My advice is to go with seadek again. It's $150 for a 40"x80" sheet.