CB/DB uses the facilities of Access and Windows to print to your default printer. If your default is a color printer, it will print the colors shown on your screen, otherwise it will print in black and white (or gray).
Any time you are viewing (or previewing) a report, you can cause it to be printed by using:
If you want to print a form and its contents, you must use the Ctl+P, and then click on the "Selected Record" button in the "Print Range" group.