I believe that feature is on the International Version and not the at&t one. There are apps to adjust the colors on the
market Play Store. You could try this
one.
Thanks for the suggestion. I have tried the app 'Screen Adjuster' from google play, and while it does have a nice set of adjustments, you can only adjust various color levels in the + plus range and this does not allow for actually lowering the overall saturation level for all three (RGB).
While the display on this phone is amazing, I am not sure why AT&T opted to remove the option to adjust the color and default the display to the punchy saturation setting. It is just too saturated for my eyes.
Hopefully, they will add this feature back into the display settings in a future update.