Rustoleum has some HIGH HEAT paint products that work and hold up really well. I've used their high heat primer, black base coat, and clear coat products on disc brake rotor hats that stayed looking great for 75K+ miles; And brake rotors get hot.
I followed the instructions on the can to a T. You should know that there is a baking process for final cure of the Rustoleum HIGH HEAT paint products, this may vary based on the exact paint you use as they have some that are rated up to 500 Degrees and some up to 2000 Degrees.
Items Off of Vehicle: Bake at 250°F (121°C) for 30 minutes then allow 30 minutes to cool. Bake at 400°F (204°C) for 30 minutes then allow 30 minutes to cool. Bake at 600˚F (315˚C) for 30 minutes then allow 30 minutes to cool. Caution: Be sure not to exceed the heat tolerance of the least heat tolerant part.
I did bake the brake rotors per the instructions on the can. Yes I did it in the kitchen oven. It will stink up your kitchen while doing this step. But if you turn on the oven hood vent, turn up some ceiling fans, open a couple windows, spray 1-2 cans of air freshener, by the time your wife and kids get home from school and work no one will ever know.
If it's a similar system as you've linked above it looks like the exhaust tips just clamp on and can be easily removed by unbolting that pipe clamp and sliding them off.
It's all about the prep in making sure the paint sticks and lasts long...
Hit the exhaust tips with a scotch brite scuff pad or maybe some 200-300 grit sand paper (or both to make sure you remove any stuck on road debris).
Degrease and clean them up real good.
HIGH HEAT primer, black base, and clear coat (both flat and gloss clear coats are available).
Final Baking Step
You'd have <$100 in paint and prep supplies plus your time.
