I don't think the answer has ever been officially stated.
As I recently saw a couple of the newer colors briefly, I can tell you the intense Pink, Red and Purple are WOW worthy. I didn't inspect them, but at a glance they reminded me of an anodized finish, only better.
The Pearly White or Pink Ribbon would not be Cerakote as all that type of finish is Flat (no gloss), as far as I know.
They would not be Zenkote or the Radii custom metal color process -- only a few metal colors can be produced using that process.
I think we all would have read reports of them flaking and pealing by now --- so, no, not like that other finish.