word - Not Just Black and White

Answer for this puzzle is one word. Have fun!

Highlighted parts are where I realised I have clued it wrong... Sorry for all this inconvenience!

Hint:

_{usefulness level 1}

The way of deciphering has been hinted in this post

_{usefulness level 2}

athin should have used another colour instead of yellow. That would make things easier, hopefully...

_{This puzzle is a part of Ooohh, it all makes sense now! :D}

Answer

After solving the nonogram (from @athin)

The title,

along with the binary found by solving the nonogram, clues Gray codes.

Breaking the code:

We can construct the Gray code by starting with [0, 1], and each layer we can flip the entire list, append 0 to the front of each element in the original list, append 1 to the front of each element in the new list, and then concatenate the lists. So [0, 1] becomes [00, 01, 11, 10] for instance. For 5 bits, we get the list
(Ok, maybe I interpreted the word "flip" too literally).
Anyway, I also wrote down the letters A-Z down the side starting 00000 (which makes sense given our code text contains some 00000's). Decoding the Gray code line by line gives the answer VANADIUM.