I was able to do something similar using the "channel blend" video FX. I used Key Frames. There are 4 rows of equations. The top three deal with altering the 3 primary colors. What I did was change the rightmost numbers in the top 3 lines in sequence. So I divided the Key Frame time line into thirds and at the beginning I set the number in line 1 to 1.000. On the first third in the Key Frame, I set the number in line 1 back to 0.000 and the number in line 2 to 1.000. Then the next third on the Key Frame time line, I set the number in line 2 back to 0.000 and the number in line 3 to 1.000. The For the last third in Key Frame time line, I set the number in line 3 back to 0.000. Then close the FX window and set the time line pointer to the beginning of the photo event and start to Play. You'll probably have to play around with it, but that's what I did to simulate the video your link shows.
an easier way is copy your track or double up your track
track one and two
on the bottom track 2 add HSL adjust
on the top track 1 add chroma key and use eye dropper to key out color you want to change
use sliders for chroma key to set or crunch the color you want to change
Remember you also have mask generator which will isolate a channel for you ,ie red ,green ,blue or alpha which will be your transparent channel if you have one
So you can use that on track 1 , that is add mask gen to track one ,select your color through RGB and multiply the mask of track 1 and make track 2 a child of track 1
On track 2 add HSL adjust, so since 1 and 2 are combined now ,you need to add a new layer track 3 with the media as is
So overall you will have 3 tracks with the same piece of media