As I suspected, I didn't understand what you were saying. Yes, in your example,
the individual B&W settings that you have applied to objects when in Normal view
do get saved. I think that what implanted the confusion was your original
question which was "Can you set the B&W view in a template?". I thought you
were asking whether setting the template to a B&W view would travel with the
presentation when it was saved. Also, you can't set the B&W view for objects
like pie charts in the template.
Probably in the back of my mind was the issue with B&W view with PowerPoint 2002
and 2003 that was recently discussed. While in PowerPoint 2000 it will travel
when you use Send to Word, it doesn't do that in PowerPoint 2002 and 2003.
So, yes, you can set the B&W setting for any or all objects that appear in
Normal view and they do travel with the presentation. I've used that a lot
myself when creating presentations that will be printed by people who don't know
how to make the settings. On the template you can only make the settings for
objects that are placed on the Master, which excludes charts.