Any time you can smell an odor off of something, it's your "olfactory" nerve-endings reacting to actual molecules of what you smell going up your nose - which makes it gross when you think about getting a whiff of poo (yikes! - TMI).
You have to make a personal decision about whether or not being able to smell paint, but only of your put your nose right up to it, is still too much for your sweetie.
Maybe if you don't get a "paint" smell when you first walk in the room, and the room is well-ventilated, you may consider this safe enough for your little one.
Otherwise, you may have a very looong wait.