First off Randy, let me apologize! This one flew under the radar on me and I never noticed it. Poor excuse I know!
What color are the side walls that you're getting so much back splash? Can you paint them?
Paint will only give you so much flexibility. While rolling it up for storage etc. may work for awhile I would guess that sooner or later it would develop cracks.
You may want to stick with Blackout Cloth just for it's flexibility. You could always tray and paint it if you'd like.