Hi
A full colour image....No.
You could try the Temperature effect for a limited range of tints or depending on the channels available Colour curves effect. Again, these will not be vivid and will be just tints. For a more intense colour used in a VERY ABSTRACT WAY.....
Load the B/W clip to Video Track 2 and apply a green screen effect for one of the grey shades.
Slice it up into short segments
Split it into very short clips and pick a different grey shade for each section
Now put several short blank clips on track 1 each blank being a different colour.
Place a very short transition between the blank image clips in various ways.
Try it and see what you get......B)...........but VP can't colorize a B&W clip.
Nat