And your player is...?!
Either way, the reason you`re seeing B & W rather than colour isn`t related to Macrovision at all, it`s related to your TV`s ability to handle an NTSC (Region 1) picture.
Try connecting your DVD player to an RGB-enabled SCART socket, which should override that particular problem, or alternatively have a dig around in your DVD set-up menu, or round the back of the player, to see if there is some way of converting an NTSC picture into a PAL picture.
Ultimately - name your player and TV and we may be able to help !