Hi
I am guessing that your camera has a bayer filter to make it colour. Try using the example 'Snap with Bayer Decoding' in the folder C:\Program Files\National Instruments\LabVIEW 8.2\examples\IMAQ\IMAQ Color.llb. The colours may look slightly wrong, but this will be due to one of two things.
1) The bayer pattern you have chosen is wrong. Try taking an image of something with red, green and blue to make this more obvious. The manual for your camera should contain the correct bayer pattern.
2) You would need to white balance the camera. You can do this in MAX and take note of the values it provides for your LabVIEW code.
Hope that helps
Mike