The text for both seems to be identical.
For the photos the standard edition has most the same, but in b&w. A number of times a full page colour photo will be reproduced as a half page b&w photo, and some photos are missing. But confusingly, the standard edition also has a few (very limited) photos not in the colour editions, for example on Gothic the standard edition has Ken beside a prop of a dead child which is not in the colour edition.
The colour edition is definitely better, given the visual aspects of Ken's films. But it is half as expensive.
Bottom line, either is worth having.
Iain