Yes, George Miller made a black-and-white cut of his masterpiece, and you may be able to get your hands on it soon.
Miller confirmed earlier in the year that he had actually prepared a black-and-white version of Mad Max: Fury Road but was vague about when it would surface, only saying that it would appear on a Blu-ray release sometime this year. Here's what he told the Los Angeles Times (via Birth.Movies.Death) about how it came about:
"The best version of Road Warrior was what we called a 'slash dupe,' a cheap, black-and-white version of the movie for the composer. Something about it seemed more authentic and elemental. So I asked Eric Whipp, the [Fury Road] colorist, 'Can I see some scenes in black and white with quite a bit of contrast?' They looked great. So I said to the guys at Warners, 'Can we put a black-and-white version on the DVD?' There wasn't enough room. [It'll end up] on another version with commentary and other features."
The initial Blu-ray/DVD release of Mad Max: Fury Road was in fact a rather bare-bones affair, but it seems that the arrival of that much more elaborate Blu-ray is imminent -- at least in Germany. According to Empire Online, that country's Amazon site now has a listing for a six-disc "High Octane" Mad Max boxed set, which will contain all four movies, previously unreleased documentaries and the "black and chrome" version of Fury Road. Amazon describes it as "surreal" and notes that it has the same running time as the film's full-color theatrical version.
The boxed set also supposedly comes with an additional four hours of fresh bonus material, so if you're leery of double-dipping (and it's frankly deplorable that studios still do that) but absolutely need to see the presumably glorious black-and-white version of Fury Road, all the new content may make buying the movies again less painful.
There's no word yet on when or if this boxed set will be coming out in North America, but it will be a lovely day indeed when we can see Miller's visionary movie in "black and chrome," won't it?