Changing the PSD's requires saving new menus in jpeg format. Its somewhat of a repetitive process as you have to save a on/off jpeg for each menu.
If I were you I would wait for the release of v3.0. It will be very soon. This allows any wallpaper to be used and the bars are transparent. You will be able to change colors on the fly.
What version are you using right now?
On another note I installed v3.0 on my via m10000 today in the car and it works awesome! It is faster on the via than v 1 or 2 and those were pretty fast. Since everything went good on my transfer to another PC I do believe v3 is ready for public consumption.