I have never tried painting snare as I believe it will slow there closing action as will waxing, which I have done, unless done under extreme temperature conditions.
To obtain a neutral bush colouring, and snare which closes as well or better than untreated cable, I just do a quick boil with baking soda to remove excessive lubricant and shine. Then a quick boil and overnight soak in a light logwood crystal solution to obtain the twig/bark colouring look of the upper snare in the picture below versus the soda treatment only of the lower snare. By quick boil I mean about 4-5 minutes. I believe many tree bark solutions would probably work as well as the logwood.