I am trying to make one part of my shot (the bride and groom) in color and the rest of the shot in black and white. Can that be done in Vegas Pro 8? thanks.
It sure can.
Check out Vol 1 #11 (Doing a Color Pass) & Vol 2 #10 (Color Pass Reprised - Passing Multiple Colors) of Edward Troxel's excellent & free newsletters for the details on doing this.