Stucco Color can quickly date your building. Most stucco is designed to last for 30 years or more with very little maintenance. So if your building is starting to look 30 years old; it probably is... Here are some very popular colors from the 70's and 80's. Desert Rose, Coral, Pueblo and Cameo. All of these colors significantly fade and tend to look like pastel colors.
Check out El Rey Stucco Colors for the Southwest
Basically over time the material oxidizes and most of the color or pigment is lost to the environment. All of these colors then look pastel or (have white added to the color). Oxidization is the natural process over time and stucco actually is much better at handling oxidization than paint.
Stucco is essentially a coating on steroids! It is also a building envelope system. But given the small layer you see (on the surface) it might start to look very fractured and dry. Power Washing or a through cleaning might just be all you need to freshen up the sections that look dull. Paint is a quick fix, but the paint will only last as long as the (skin) over the stucco lasts. Personally I like the idea of not having to paint my building every 7 to 10 years. If you can have a finish that will last for 30, well why not?
Just select colors that will stand the test of time, or only use accent colors that can be updated in the future. For instance, "Desert Rose" is an 80's color. It was incredibly popular in the late 80's and 90's. Today, no new building is actually installing this color. It's everywhere and it's a worn out color. We get used to some colors and eventually grow tired of the look.
I'm not advocating painting your stucco finish. If you are going to be in your home or business for the long term, consider another texture coat or "fog coat". This will maintain the original look and feel that stucco provides.