During the Post Production of Mad Max : Fury Road. George miller created a definitive Black & White version that truly reflects his vision of Mad Max.

"We spent a lot of time in DI (digital intermediate), and we had a very fine colorist, Eric Whipp. One thing I’ve noticed is that the default position for everyone is to de-saturate post-apocalyptic movies. There’s only two ways to go, make them black and white — the best version of this movie is black and white, but people reserve that for art movies now. The other version is to really go all-out on the color. The usual teal and orange thing? That’s all the colors we had to work with. The desert’s orange and the sky is teal, and we either could de-saturate it, or crank it up, to differentiate the movie. Plus, it can get really tiring watching this dull, de-saturated color, unless you go all the way out and make it black and white." Source: Director own words

Miller has insisted that this black and white version appear on the Blu-Ray release, alongside a 'silent' Mad Max, in which audiences would hear only the film's score, with no dialog. Yet with the recent Blu-Ray release, this version has not yet appeared and there is no indication that of when it will ever be released in the future. However this version is completed and has been screened on the Warner Brother lot.

Proof: Source

This request doesn't seem unreasonable given the fact 2007 Dimensions film The Mist, had a B&W version released on DVD and the Blu-Ray. Source: Complete Blu-Ray

And frankly not releasing the B&W version of Fury Road seems like a terrible business move. Here's examples of what Fury Road would look like in Black and white. Example1, Example2,

So please Warner Brothers don't deny audiences a chance to enjoy this amazing piece of cinema from a new perspective.