I am, as a rule, an almost fanatical adherent to B&W. But in this case I feel that there is a very strong design element of the sequence of blue forms leading to the bluey-grey timber of the barrel. That strength is gone in the mono conversion
I agree about blue design element. Very nice indeed. The only thing for me is that the foliage on the left is a small distraction in the color version, but not in the the black and white version--which I would have thought was quite compelling if I had not seen the color version.