There is no reason this should be happening. At least nothing in the programming that would cause this.
It's most likely related to your drivers and/or operating system. Are they both running El Capitan -- an OSX that's still causing a number of issues for Adobe products?
Both computers are running El Capitain. I don't think this issue has anything to do with drivers or the operating system. It seems to be a matter of Premiere Elements not finding the resources, and coloring them black and white.
Why would the exact same file display differently on two computers running the same operating system -- especially when it's displaying color on pretty much every other Mac in the world, including mine?
I've gotta vote OSX issue.
BTW, these menus are PSD files. So, if you've got Photoshop or Photoshop Elements, you can actually open the templates and ensure that they are in color.
You'll find them on a Mac in Library/Application Support/Adobe/Premiere Elements/14.0/DVD Templates/All_Lang.