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These are very good ideas: Things that I half knew already but didn't really admit: artwork generation and it's viability for sale. Thing that I hadn't extrapolated to yet: video generation. neat application: pornography - neat! I hear it makes lots of money!
Colourizing already exists, but its not that great/we don't care enough to have seen it take off.
I am looking into artwork generation to see where it can go.
According to my reading of the license it should be fine to sell images (generate an artwork and sell it); as long as you don't try to sell the code to anyone.
Even then, Google published enough research papers on the topic that it's trivial to reverse-engineer and write your own program to do the same thing - in fact, several people have done it already.