my webcomic went through both monochrome and color and i have to say, each one has their own unique flavor and style that you'd lose if you were to switch mediums also, the time it takes to create mono to colored is vastly just greater
here are some pros and cons that i have thought up for each medium
colored
+ gorgeous if done well
+ can easily direct the mood and setting of the story
+ prevents confusion on objects that almost have identical looks
- time consuming
- requires some color theory mastery
- less reader input
Monochrome
+ lets the reader have more creative input to the story
+ faster, as you don't have to always plan what color goes where
+ easier for the eye to read
- can be confusing if a lot of detail has been placed
- can be hard to distinguish objects from each other
- composition mastery is a must