Sorry I have not checked this thread for a while....yes I always use Powdered Tempera Paints. After you carve your rocks you want to use a rock mix to coat them, This as it starts to set up you can carve grooves and cracks to make the rock look weathered here is a link to the Rock Mix
http://www.rmi-online.com/index.php/cPath/11And when I first mix the water with my rock mix I like to mix in a little brown or black Tempera paint, Just to give it a little base color, But after that you can brush the tempera on or use it in a spray bottle ...there all all kinds of provine methods and they all work well, Here is a link to the Tempera Paints
http://www.rmi-online.com/advanced_search_result.php?keywords=PaintBlack
Brown
Green
Gold
Red are all common Colors, it just depends on what color rock your after. You can really make them look realistic, if you want like a spec look like some rocks have mix up your desired color with water dip like a 1.5 or 2" brush in stand back a little and flick the brush at the rock, Practice this a few times before you actually hit the rock, it gives a very real look, I like Gold and reds..or even brown for this step, You can also do a bit of dry brushing. Hope I was of some help to you.