How to solve Vista rendering problem
VLC renders black&white video under Vista, to solve this open Preferences>Video>Output Module, select "Advanced Options" and choose OpenGL as video renderer.
I would like the developpers set OpenGL as default video rending system for Vista in the next versions and check if people have last graphic card driver.
PS: Vista emulate OpenGL under DirectX so performances are decreased. This will be solved by ICD drivers which will be integrated in nVidia Forcewares and ATI catalyst (and maybe Intel, etc...) Wait&See
Be ready on January the 29th