I am pretty sure this movie is in colour. I have not seen it for over 10 years, but I seem to remember colour.
The Orsen Welles Radio Play is something I have always meant to listen to. I even went so far as to track it down on eMule and download it. It has been months since I got it and still have not actually listened to it.
I am pretty sure thay actually made a movie about the impact of the radio version. Apparently it was so well done for its time that vast amounts of people believed it to be true. The movie was called "The Day that Panicked America" I think. Once again, it has been well over 10 years since I have seen it, so I could be wrong. If I was not so lazy I could probably look it up online.

My favorite version of WotW has to be the Jeff Wayne Musical version from the 70's. Man I love that record. It remains one of my favorite musical works to this day.
Still have not seen the Spielburg version. Not in any rush to.