> If someone creates a derivative work (e.g. crazy colors), that new person does own the copyright in the new "crazy colors" version, but they don't own the copyright to the black and white version.

I don't think that is true at all - as far as I know, copyright on a derived work belongs entirely to the copyright owner of the original work.

If I create and sell prints of a Game of Thrones character, I am infringing HBO's copyright, and any money I make are owed to HBO legally. If you then create T-Shirts with my print and sell those, you are also infringing HBO's copyright, and all the money you make is also HBO's legally - you don't owe me 1 cent, since I had no right to copy HBO's work in the first place. If HBO wants to sell T-shirts with my print, they don't owe me anything.

However, patent law does work like you mention - you can have a patent on a technology, and I can have a patent on an enhancement over that basic technology. I can't create a product based on your base technology if you don't want me to, but you also can't create a product based on my enhancement if I don't want you to.