The Mystery of Secret Agent in Black and White

I've owned the below VHS release for nearly 23 years (purchased at Greene's Department Store located in West Union, Ohio at some point during the summer of 1989), and one thing about it has always baffled me...

The technical info on this VHS is this:  It was manufactured by Trans-Atlantic Video in 1988 and it's part number is #13019.  What makes it such an oddity is that it contains a transafer of the short "Secret Agent" (probably one of my favorites of the 17 Fleischer/ Famous shorts) that's in black and white instead of the normal color version, with weird, seemingly homemade title cards at the beginning of the short.  My theory for years has been that this transfer was taken from either a 16mm or Super8 reel made for retail distribution.  Anyone out there hve any info on it?