As alluded to in this thread: http://www.prince.org/msg/7/171070

A colored version of UTCM does not exist, but an extended version with added scenes does.

So, does anyone here know of these added scenes, what where they?

wasn't UTCM filmed and most likely edited in color? The B&W processing was applied later and resulted in some of the muddiness... or so I thought.

I've also never heard of outtakes from this film, unlike the other two.

ufoclub said:

As far as I know, WB was not too keen about the idea of a movie in B&W.
So UTCM was filmed in color and, after an agreement between Prince and WB had been reached, the B&W processing has been applied.

This is an excerpt from an article in Uptown magazine issue#20. If an extended version of this film exists, it's probably in the hands of the same stingy person that has the uncut version of Purple Rain. Stingy, stingy.

Isn’t It A Shame This Ain’t A Movie... Part 2 – Uptown #20

UNDER THE CHERRY MOON

The shooting for Under The Cherry Moon began in September 1985 in Nice, France. During the filming, Prince demoted Mary Lambert from her role of director and took control of the film. Prince wanted the movie to be filmed in black and white to invoke the mood of a “forties-style comedy” (as the film was described at the time). Prince’s management felt this was a bad idea that would cause the film to be a commercial disaster. Prince insisted on getting his way, so a compromise was struck: it would be filmed in color, and they would decide later. The entire movie was filmed in color, but Prince still insisted on converting the footage to black and white. In the wake of his success in Purple Rain, he was in a position that allowed him to do about anything he wanted, so the film was reprocessed into black and white. An early edit of the movie apparently included an ending in color, possibly during the “Mountains” performance. Rolling Stone reported that “the movie reaches for a big finale with a burst into color as the credits roll” in an early test screening.

Some scenes were filmed for Under The Cherry Moon, but edited from the final version. The third draft of the script, dated September 7, 1985, details some scenes that were not in the movie, but it is unclear if these scenes were actually filmed. The unreleased song “Sexual Suicide” was included in an early cut of the film. Some footage is known to have been filmed and cut from the scene in which Prince’s character, Christopher, meets Mary for a secret rendezvous at the race track. As in the film, they speed their cars around the race track, but in the original version, Christopher’s car skids out of control into a sand bank. Mary jumps out of her car and runs toward him, shouting, “Christopher! Are you alive?” He answers “yes” as he walks up behind her and puts his hand on her shoulder. She spins around and they kiss. They’re both startled, but after a few moments they begin walking toward the horse stables. They run through the racetrack and Christopher tackles Mary and they both fall to the ground. Mary looks at the sky and mentions that “the moon is red tonight.” After talking awhile, they kiss again and Mary pulls Christopher to his feet and they start running again. Once they reach the horse stables, Mary asks “what do you think will happen if we let them loose?” “They’ll just run away,” replies Christopher. They race past the stalls, releasing a chain on each one that holds the horses in. One horse rears up and almost tramples Mary, but Christopher pulls her to safety. All of the horses gallop out of the stalls onto the practice track. Mary drags Christopher out of the stable area and toward the track, where the horses are running wild (a brief clip of this is in the film’s original theatrical trailer). The couple run to a large pond in the center of the race track that is surrounded by flamingos. Mary goes to a canoe on the ground by the shore, and asks “remember when you said you wanted to take me on a trip to the moon?” Christopher replies “yes.” Mary says “I’m ready,” as they push the canoe into the pond and jump inside. The horses continue to stampede around the track that surrounds the pond. They lay in the canoe and begin kissing each other (this is also briefly featured in the theatrical trailer). They begin to make love as the canoe floats to the middle of the pond and the flamingos take flight. The rest of the film is very similar to the released version.

I got the above information from Housequake.Com.
[Edited 12/19/05 15:00pm]

A good friend of mine told me that she and her friend saw a test screening here in L.A. and that Prince/Christopher did NOT die at the end of the film she saw. I don't remember the details, as this conversation took place in 1989, but I think she said he didn't even get shot in the version she saw. (Not positive on that though).

Wow! Excellent info. Thanks folks. Anyone else know more? This stuff is great!

The film was not entirely shot in color. Only the first few days were shot in color, but in a muted, distorted color. Black and white photography and film processing takes advantage of lighting to bring out certain details. A character's costume doesn't have to be the correct color, just the correct shade. A red filter may be used that makes the green grass look much darker. Black and White films are shot that way. There is NO full version of the film in black and white.... period.

Additional scenes that were lost include a new opening that had Prince talking to Venus De Milo until he was called away by Tricky.

A version edited in February but screened in March ended with Prince and Mary sailing away and Prince not dying. That is an accurate version your friend talked about.

Versions of the film were completed on Friday, February 28, 1986, mid April, and Thursday May 29, 1986. As far as I know, that may have been the final edit as it was released July 2 (premiering on July 1st), because films require a great deal of mixing, etc. before film prints can be made.