in previous versions of SNAGIT, I could use a selection tool to pick a color then replace it with another color. There are items on the web that show clicking "replace color" on the effects menu. I can't find that on 4.0.7 of the tool... Is it still there somewhere?
what are you trying to change Color of. Snagit 4 no longer use apple's color Picker what every you are working on has a Colored Block or Colored outline click on that an Pop up Color picker comes up looking something like a Temperature gauge ans Circle in a Box that from Black through to white It has an eyedropper where you can choose a previously used color I wish I could take a SnagIt screen shot of the Snagit color adjustment. but I can't. There same for Text, shapes, balloons, and so on.