Hey guys,
I don't know if this fix will work for you, but if you're having this display issue with any external display devices give it a try.
I was using a MacBook Pro with a Dell monitor hooked up via Thunderbolt->VGA adapter. It was working fine prior to OS X Yosemite 10.10.3 update, and stopped after. In the display preferences the monitor was recognized, but black with no visual display. No amount of settings, rechecking cables and connections or other voodoo was working. I did some research here on the forums and found others with similar issues, and no apparent solution.
As the Windows adage goes, if something isn't working, 'Try turning it off, and on again'
I unplugged the Thunderbolt connector from the MacBook, turned the computer completely off, waited about 1 minute, plugged the adapter back in, and powered on the system again.
Upon booting up, the monitor was again recognized, and was properly displaying video. I don't know if this will work for other devices, but I hope that it will help someone out there.
Cheers!