Does the Studio version have the chroma keyer effect and the HSL effect? If so, you can achieve this to a limited extent.
The first picture is the original, unaltered.
One step to the right i've applied the chroma keyer and chosen the brightest orange color in the tree. You can see in the image at the top that the orange is somewhat masked out. Play with the chroma keyer settings as necessary to isolate that color better for your image.
The next step shows the image on a lower track with HSL applied, shifting all the colors in the image until the orange leaves become purple.
The last step combines the masked image on track 1 with the altered image on track 2. The result on top shows that the orange tree is now purple!
I chose a rather difficult image to test this with. Hopefully the colors in your images are more cooperative.
Sometimes I have luck with AAV Colorlab. Here is an example where I desaturated cyan in the boy's shirt without affecting the other colors too badly. Before with the Event FX turned off and after with it turned on. Notice that the saturation control was set to zero and the lightness lowered to give a dark gray look. You can also change a color with this tool by playing with the hue setting.
I can sometimes fiddle with the other color channels in AAV and also apply the Color Corrector effect and get a good result. It depends how easily you can isolate a particular color and not miss it elsewhere in the scene. (I don't know if Studio HD has the Color Corrector.)