To me personally, I would just buy the premade black SI...it's worth it because you don't need to mix in the colors...and keep guessing how much to put in. It's less aggravation on that part.
I agree with all the other posts. I make MMF for everything except black and red, I purchase satin ice. I tried black and red once with the MMF and it was so hard to work with because of all the coloring I had to add. It was sticky and dry at the same time if that makes any sense!
I compleatley agree with everyone else, black and red need ALOT of colouring and effort. i can never get it the shade i want so i buy mine now, although other colours are far easier to do! x
Just curious, does it make it any easier if you start with chocolate fondant and add black coloring?
Buy it! I made black MMF a couple of weeks ago for a cake and it was a PITA to work with. Good thing the cake was for a family member, otherwise I woud have gone to the cake store a purchased black SI. 
Never again will it make black or red - I get the colors right, but the texture is always wrong!
BUY it!!!! It makes life soooo much easier.
Since you need just a little -buy pre-made but I used to feel the same way about black and red fondant until I tried mixing the colour first into the liquid (glucose and gelatine) before adding powdered sugar and found it much easier than trying to knead it in to already made fondant.Now I can make as much dark coloured fondant black, red,brown, purple, bottle green etc as I want without the sticky results 
. HTH.
I agree with everyone else, buy it, I have the black Satin Ice and it is really good to work with, now the red is another story, I find it cracks, but buy the black, will save you alot of headaches of trying to make your own and even though I find the red Satin Ice cracks rather buy the red too.
Hey I was in line with all of you too about buying my black and red from SI but I just recently learned from MacsMom to color the fondant with powdered food coloring (not the usual paste)...what a big duh for me!! Try that and see if you change your thoughts like I did.
I agree, the black satin ice is nice for convenience. I like to mix it with about 1/4 dark modeling chocolate to make it even nicer to work with. It still stays a very true black. Also, I made chocolate fondant with black/very dark dutch processed cocoa powder in excess of what the recipe called for and it came out super dark. It would have gone black easily if I had added any food coloring. I had to tone it down to get the chocolate color I was looking for. So, this might be an option of you need a lot and don't want to purchase pre-made for a large cake.
Hey I was in line with all of you too about buying my black and red from SI but I just recently learned from MacsMom to color the fondant with powdered food coloring (not the usual paste)...what a big duh for me!! Try that and see if you change your thoughts like I did.
You are so right!!!I use powdered food colours too and they are so great in fact the red of valentine cakes was so intense I had to tone it down with some white fondant though I'm yet to post pics.
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