It's ribbon pointing so likely cement. Lime isn't tough enough to last for long extending outside the face of the stonework. If you tap it with the end of a trowel and it rings more than tapping the stone then definitely cement. If it thuds when you tap it or crumbles off then likely lime.
They've gone to the effort of colouring it so it would need to be cement mixed with hydrated lime and a colour tint added. That would unfortunately still behave like cement.