On Fri, 2 Nov 2012 09:30:32 -0700 (PDT), "hr(bob) "
wrote:

But if the stucco is keeping moisture in, it is also keeping it out of
the walls, so what moisture are you talking about, from the inside
occupants of the house?

A metal weep screed it installed to stop water from collecting behind
the stucco.

Pic:

http://localism.com/image_store/uploads/8/6/4/6/8/ar130755449886468.jpg

Millions of stucco homes are painted (FL, AZ, NV, CA, NM....)