S-Video is audio only so you would need to connect the audio output of the camera to the converter audio input (if it has one).
S-Video carries the color information separately than the BW picture. Pins 2 and 4 carry that. You may have a bad cable, bad output of the camera, bad converter, or the pins aren't correct. 4 pin mini din cables are used for other applications and the one you got may not be compatible with S-Video although most are.
Many thanks to the two replies to my thread, since both mentioned something about the Pins, I used a brand new S-Video cable that came with the RCA converter and same thing Black and white. The converter does have red, white and yellow input ports,, but I did not attempt to connect anything to them because I wasn't sure how that would work. I had the S-Video connected between the converter and camera and the HDMI into my TV. While that converter has the ports I mentioned my camera has no other ports than the S-video out
Connect the audio output of the camera to the red and white audio input of the converter. That will give you audio.
Try the converter on another TV. If the picture remains BW then the problem is the converter or the camera. Try another converter or if you can dig up an old TV with S-Video in you can check the camera.