It shouldn't really damage them. Springs are pretty sensitive to heat though, and the parts get baked pretty hard in the pc process so maybe there is a chance of the heat making them more brittle and less flexible. I'm not sure.
I don't know if powdercoating is a good choice for springs though. I'm not an absolute expert on this, but I know we never tried to pc the springs on the sprint cars because we were worried that because powdercoat doesn't flex like paint, it would crack and peel off from the spring flexing. With the race cars we just left the springs the original colors.
Now, if you're intent on coloring the springs, my cousin had good luck with krylon fusion paint on the springs on his quad. Fusion is actually intended for plastic, but it works well for anything that is flexible primarily because it has an extra agent in it that allows the paint to flex more, so it doesn't crack or lose surface adhesion. It probably won't be as chip resistant as the original factory paint, but his springs only developed a few little chips in a year.