When you double click on an item you will get it's properties screen. At the top there are 2 tabs. The 2nd tab will be your color options. If you leave the relative boxes checked and move the sliders the item changes colors but the whites stay white. If you are working with a greyscale image you will have to uncheck those boxes to make your color changes. Hope this helps! Have fun!!
The Adjust color feature has been VASTLY improved in Scrapbook MAX! 2.0! Find it by double-clicking on your photo, paper or embellishment. Then, click on the Advanced Tab found at the top of the Properties box. Here, you'll find an adjust color box that you can check, and sliders that you can use to alter the color (in real time, so you see the effect of your changes.)
There is a handy little step-by-step tutorial (Mini Tutorial #2) in The Groove this monthy showing you exactly how to do this. You can check it out here: