Jace
recently posted a bunch of information regarding Mr Mitchell's recording methods and how they seem to be capturing a mono-chromatic recording.
I don't have a great deal of expertise on this but I believe this is most likely due to a mismatch in subcarrier frequency that is actually carrying the color.
Essentially the signal is broken up into luminance and chrominance (and some other bits and bobs as I recall) and luminance is enough to get a B/W image and chrominance gives you your color. But in order to get the color right the recording device has to have a key reference to the base or zero-level frequency is to make sense of it. I think a lot of hardware will throw it away if it figures out the signal is garbage which is why you get a B/W recording.
I'm speculating a bit (more) on this next bit but I believe the monitors handle it to some degree because they are actually hooked up to the source during playback, but don't hold me to that bit.
Based on NTSC standards a normal domestic (US) VCR is probably expecting a ~3.58 Mhz chrominance subcarrier frequency but I have no idea what the setup is actually generating. Taking a look at some of the PAL standards it's possible there are some VCRs out there that just might get some color out of the setup, but no telling if it would be accurate.
I'm not sure how much of this information would be news to anyone at TG, but it's what I could come up with scraping my brain plus a few minutes of googling. Take it with a huge grain of salt and verify with others before taking it as gospel, etc.. etc..