How can I paint parquet (mahogany) flooring?
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You can do it! First carefully clean and fill in any holes, sand,prime and go ahead!
http://homeguides.sfgate.com/paint-parquet-flooring-36450.html
Personally I would sand and seal such a beautiful floor.
An alternative to painting would be to remove the stain on your mahogany floors, and then pickle or whitewash it white, allowing the grain and pattern to still show. http://www.diynetwork.com/how-to/skills-and-know-how/painting/whitewashing-and-pickling-techniques