When we do a thresholding in LABVIEW, the pixels values are 0 or 1. The image shown in red and black is to distincly show the user that there are two components.
However you won't be able view the image like that outside LABVIEW. To view is in other programs, you need to make the values as 0 and 255 (B and W). For that you can use lookup table with equalize opton or if you want to use a low level threshold api there is a replace terminal.