Black and white in fabrics and furnishings in general can be nice if used right.  I'm not big on the whole "lets make this room look stark and desolate" theme but I can appreciate it when done properly. 

Black and white photography, however, I've always liked.  To me they are very evocative and several levels above and beyond black and white furnishings.

I greatly dislike black home decor, so I hope the trend is short lived and has limited impact!  :)

I think the black & white accessories are supposed to go with the intense wall colors that also seem to be popular. Wall colors like burgandy, dark orange, bright blue, etc etc.I couldn't stand any of it, myself. My idea of the perfect decorating scheme would be to take an April Cornell store, paint my house (inside AND out) the exact same colors on the walls & everything, and scatter the stuff they sell all over the house.