Change the Channel

Have you ever wondered why the color Channels, in Photoshop, display as grayscale images?
Choose Window > Channels
If the image is in RGB color mode, you'll have three individual color channels, Red, Green, and Blue plus a composite channel of all three.
If the image is in CMYK color mode, you'll have four individual color channels, Cyan, Magenta , Yellow, and Black plus a composite channel of all four.
By default, the Channels display in black and white.
To see them in their full-color glory.
Choose Edit > Preferences > Displays & Cursors
The Displays & Cursors Preferences dialog box appears.
In the Display: section, select the Color Channels in Color option.
Click OK.
Choose Window > Channels
The channels are now in color.

So why are the Channels,  by default, displayed in black and white?
In many cases a grayscale is easier to "read". Yellow channels are oftentimes too light. Conversely, Blue channels can sometimes be too dark to get an accurate assessment.