The husband of a friend of mine asked me to recommend an embroidery only machine for his wife. He gave me a specific price range and I did quite a bit of research. I recommended the 770 so that's what he bought. And let me tell you, that gal is an embroidering fool. It's gotten to the point where her daughter asked her if she could please get just one item from her that DOESN'T have something embroidered on it!
I have owned several embroidery machines and done a lot of designs with a lot of color changes and, until you mentioned it, I never thought about the screen being black/white. It has never been an issue.