I just watched the colorized version in its entirety for the first time, the HD release included on the season 2 Blu-Ray.
I never noticed in B&W that Ricky was ironing Lucy's polka dot dress, so that was a nice new detail to pick up on (was there a deleted scene where Ricky realized he scorched the dress? The audience reacts to his leaving the iron down but nothing comes of it). Also, while I understand why they chose pink for Lucy and Ethel's uniforms, I personally prefer the neutral colors Elvia Allman was wearing. I'm sure that was much closer to what the costumes actually looked like, and it wasn't as hard on the eyes as that bright pink was. Aw well...at least they didn't choose lime green like one unfortunate fridge magnet I saw years ago did.
The famous Vitametavegamin ensemble that makes a reappearance in this episode must've had a good luck charm sewn into it, given its appearance in the official "top two" episodes of all time. As terrific as the block comedy scenes are, I personally feel this is one of the more overrated installments. It's really the gang's execution of the physical comedy that makes it work, because the script isn't exactly overflowing with sparkling dialogue like more mature episodes. It's hard to imagine how I'd react to it with fresh eyes, but this one was so frequently repeated on old VHS compilations that I kind of got overexposed to it. These days, it's usually one I tend to skip over whenever disc surfing. The colorization was actually the only reason I chose to rewatch it at all.
I feel the same way about Lucy's Italian Movie. In reality, TV Commercial is the only one of the "big three" I truly enjoy nowadays. Again, strictly my personal opinions.