Lately I've been noticing a growing trend in Scandinavian design. It seems everyone wants their home to be black & white. Sometimes a single color is involved, but this is not typical. In return, the homes look clean and bright. I wish I was brave enough to eliminate color!
I am a complete Swedophile. Maybe that's not a real term, but it definitely applies to me. I have to get my hands on anything Swedish at all times. Each time I see a gorgeous Swedish home, my heart melts. Although not all of these homes are Swedish, I have a similar love for anything Scandinavian. These homes are so light-filled and bright. The decor is perfectly thought out and each element is perfectly tailored for the space.
See the homes here:
• Mikkel Adsbol's Interior Photography
• Hemnet Swedish Home for Sale
• Susanna Vento's Home
• Likainen Parketti: New Look
• A Home Filled With Design Icons
Images: as linked above
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Beth's Romantic & Retro Residence
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The Big Book of Small, Cool Spaces 
Apartment Therapy Presents 
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Shaw's Original Fir...
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How To Cook Tender, Chewy Wheat Berries on the Stovetop
Well, I like to have some color for warmth.
Black and white are crisp and timeless. Color comes in book jackets, flowers and art work.
I'm doing grayscale right now: black, white, and gray (with some pops of cobalt). I'm not sure it's Swedish, but I like it regardless. These pictures, though, come across as icy and unwelcoming. I'm including a lot of soft grays because I think it tempers the look, so it becomes more cozy and less harsh.
There's a reason for all the white: living in the this part of the world (I live in Denmark) daylight is not something we get a lot of - it gets dark around 3 p.m. in the winter - so white interiors is a way to maximize the natural light. If you notice this style is often accessorized with soft things like fur rugs to soften the look. If you live in a place with more light there is no reason you can't ad more colour to the mix as long as you keep the lines crisp.
I agree with ploefff, the shortage of natural light is the main reason behind the airy lightness of Scandinavian style. I've always wondered how they live and decorate in Alaska, as its on the same latitude as Finland. Please have a post about Alaskan living!
Most Swedes DON'T use all white and prefer cozier interiors. At least one image has been photoshopped from the original (which looks like it was modified already) - #3 from Eklund Stockholm New York... I think these would be awful in Stockholm in winter (which tends to be gray, there isn't as much snow as there used to be) and further north they would have horrific glare from snow reflecting inside, trust me, even with short days, it gets very bright during winter days.