According to the dictionary definitions, if black is mixed with white the result is gray. On the other hand any colour which is modified by the addition of a little black, or a little black and white, results in a grey tint of the original hue.
But nowadays it seems that the actual spelling of a word is not all that important when talking generally about colours, unless of course a particular spelling is given to a named aero-colour.
From a camouflage point of view, grey has always been a useful colour, for if carefully chosen it will reflect or take up any surrounding colour as in the chameleon effect. The Blue of a sky can tinge a grey into a blue-grey. Ground colours too can tinge a grey on low flying aircraft.
Cloud colourings will also alter the appearance of a grey aircraft and, in fact, grey makes for a good overall camouflage provided an aircraft is on the move. Conversely, a grey aircraft on the ground needs to have a covered pen or other concealing screen if it is to escape attention from enemy reconnaissance.