I consider 'Shades Of Grey' a real episode. But that doesn't mean I waste my time watching it whenever I watch season two. It's straight from 'Peak Performance' onto season 3 for me.
(Having said that, I do admit I think the linking plot for 'Shades Of Grey' is actually okay, and it's got some cute moments between Will and Deanna. But are they worth watching through a clip show? Nah.)