Ok so here is the deal with the black and white picture for NTSC systems. Like a lot of people have been pointing out the apploader runs in PAL mode, regardless of the region of the disc or wii. PAL (used by most of Europe) outputs 640x576 at 50 times a second, NTSC (used by America and Japan) outputs 640x480 at 60 times a second. Older "standard definition" TV's expect one format or the other and since NTSC TV's don't know how to handle PAL, we get the black and white images with the bottom 640x176 pixels cut off.
The reason why some people with NTSC HDTV's are able to play in color isn't necessarily the cables, but the fact the newer TV's are smart enough to detect the video signal as PAL and properly display the image. So in the end, its a matter of having the right TV for NTSC folks being able to enjoy the apploader.