I personally do not consider it a risk when there is years of experience with it and it is non toxic once dry, the company will not endorse the products for something they haven't actually scientifically tested it for, notice they do not state not to use it all all however. It is standard practice to plastikote/other non toxic paint wooden items for hams/mice/rats/multis/similar, and cage bars too practically all cage renovations use Plastikote or Hammerite (another non toxic) which is ideal for metal painting and rust removal on cage bars (not so typical in guinea cages however, but for rat cages it needs doing periodically as their urine gets everywhere and even with a full weekly wash down they rust I will be redoing my cage in the summer with hammerite, then plastikote navy over the top so the rusted and non rusted areas are the same colour).
Its not only aesthetics but cleanliness also, I would not use untreated wood for any items that would be in the cage for any time. Urine, poops, water bottle leaking etc can ruin the wood and it can harbour germs. A non toxic paint seals them preventing anything penetrating the wood and also allows proper sanitisation, which to me is essential. The piggy stuff is currently painted willow green to match their hutch which is their summer housing, prior to this it was blue to match the old hutch. I tend to sand my gear back and repaint periodically to make sure everything is smooth and fully sealed and at any point if stuff is going between different animals. I'm quite OCD over that kind of thing.
I hear you on the plastic, I have in the past sanded it because they've made it sharp chewing it! The pigs havent chewed their wooden houses only specific wooden chews, such as nibble carrots, placed at a spot on height for them. Its a shame really they dont chew more as its good for their teeth, and with my other more chewy rodents they seem odd but then again they have hay whereas the others dont tend to eat it even when offered they just nest in it.
The tie on corner hammock hidey is a good idea thanks for that, I do sew myself I make my own rat and mice gear. I was going to make normal corner hammocks for them and a hanging basket type thing in the middle of their cage anyway so I may make something similar. Norbert has chewed fleece before so if he continues to do so they're not having any fabric items but as he is only a tiddler he can have another chance.