Yes, is the answer. Yes, sometimes an image feels better in black and white, and yes, sometimes colour is right, too. I have shot with two cameras in the past, one with colour transparency film and the other with black and white, and I would compose for each medium, textural and dramatic shots in mono, and then compositions which carried a strong colour element, on the other camera.
Now of course, shooting raw format means than each image can be processed, effectively from a digital negative, exactly to benefit that shot. I wish black and white were used more; many times it lets you concentrate on seeing what’s in the subject. So I do still process an image to monochrome, then hand tone it, exactly as before (though without the chemicals), and this is a slow process of experimentation, not a fury of button-pushing.