The way I did my Cold Stare dio (see my gallery, click below) is to give my stone wall a base coat of light gray, to make sure its all covered. Then I made a few mixes of different gray colors, and picked out each rock, then I went back in and colored the mortar in between a lighter color.
The key to any rock based wall is washing it. Make a very dilute mix of thinner and paint and wash the whole wall to tone it all down. Then vary the color of the wash mix with some burnt umber or dark brown gray or back and go in around details to add depth and shadow. Let the natural flow of the wash 'happen' and fill in the low points. Repeat as desired with various shades and thicknesses of wash(s).