I had a covered concrete patio that the prior owners had painted with gray paint. It always collected water in the middle because of a low spot and the paint would peel. I think a sealer on concrete would be good, but definitely not paint. No way to tile over it, either.
I recently saw a product that I don't know much about. It was a finer gravel mixture than pea gravel, but about that same color, that was glued to an existing concrete porch with some kind of poly glue. It looked nice, but I have no idea exactly what it was or how durable it is.