If the problem is related to a specific file I'd say it's not security
related unless there are macros in the drawing that influence the color of
the JPG. In that case lowering the Macro security to medium and enabling
macros when you open the drawing would fix that. I'd first suggest trying
to open the file that has this issue on another machine to see if this is
machine specific.
If it happens on another machine, try copying the JPG from Visio into
something else like Word or Paint, if the JPG shows color in another
application then try copying back to the Visio drawing that has the
problem. If that doesn't work try inserting a new page
If that doesn't work you could try saving as an XML Drawing (*.vdx), close
the drawing and Visio, then re-open the XML Drawing.
Best Regards,
Aaron Rykhus, MCP, MCDST
Online Support Engineer
Microsoft Corporation