I think you're right about Fred. Probably easier to colorize, since he was an old guy; much less focus on the color of his hair, outfits, etc. Sometimes less is more.
I'm certain that both shows got the same treatment. Which is funny because at the time of the release, there was hot debate online that you couldn't make the colorized version look like the original black and white. Yet that's exactly what Sony did.
The "CPT Holdings" appears on both the color and black and white sets. CPT stands for Columbia Pictures Television. The exact same masters were used; the black and white just has the color turned off.