In the html, put something like this for the text value:
Code:
<%# MyMethod((bool) DataBinder.Eval(Container.DataItem, "Color")) %>
In the code, make a public function that returns a string and accepts a boolean:
Code:
public string MyMethod(bool isColor)
{
     if(isColor)
         return "Color";
     else
        return "Black and White";
}
I didn't get to test the code, but you understand don't you?
If you need more help, I can acutally do it in VS and send you the exact code.