The MATLAB MCR (installs the shared libraries you need to run compiled MATLAB programs) for Windows is huge, so I made it into a torrent:
Download the compiled build here: colorize-win32.zip [1.55MB]
If Windows complains that CTF is not a registered file type and it can't find the proper program, you may need to reboot. You can use the example bitmaps from the source zip linked on the original website if you want to see what input should look like.
Download the compiled build here: colorize-linux.tar.bz2 [3.6MB]
You don't need the MCR for this build, all the required libraries should be included.
export LD_LIBRARY_PATH= /home/blah/colorize-linux/sharedobj:$LD_LIBRARY_PATH)