It seems that a little bit of handywork is necessary in this case.
First I suggest you to prepare a folder of the pictures that you wish to be shown in the presentation.

In PP choose from the Insert menu Photo Album and New photo Album. From the menu choose File/Disk. Choose the folder you just created. Choose the pictures and click Insert. Now that you have the pictures listed, tick the line "ALL pictures black and white". Insert "Create".

Now you have the pictures in black and white.

To have the pictures in colors, do the same until New Photo Album. Instead choose Edit Photo Album. Now insert the same photos again and instead of choosing the line "ALL ..." press Insert right away.

Now we move on to the handwork. In PP on the bottom right corner you have the button Slide Sorter. By clicking on this you'll get a view of the slides. In this view you can click and drag and sort the slides in the order you prefer them.

Hope to have helped,

Rgrds,
Kristiina