The new CreativeStudio allows you much more control over your uploaded images than before.
Before reading below, we recommend you read our article on content manipulation, which covers many editing tools in further detail: (How do I manipulate content?)
The Effects drop-down will allow you to apply several different effects to your image, such as Blur, Sepia, Offset, etc. You also have the ability to perform color replacement, will convert all color content in the image to one solid color. This can be especially useful for when you have a full color logo you'd like to be pure white on a colored background.