Welcome to TFP! While technically the color doesn't matter, some may be concerned that having the black side up would absorb the sun's rays (heat) faster thereby increasing the water temperature and increasing the chances for algae. Is that a HUGE factor? I couldn't confirm for sure, but I would keep the darkest side down. Also be sure to close the pool properly as noted in our link below.
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Typically I put the black side down. If you look at the pool cover you'll see there's a "finished" side and an "unfinished side. Does it matter, probably not but maybe the side that faces out has UV inhibitors but I really don't know.
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