I have a client that wants to take her logo and company name that she has on a psd file and change the colors. I didn't think I could do it because once it's closed it is essentially rasterized. Is there a way I don't know about?
What do you mean? Is it flattened? Or are they just rasterised layers?
If the latter then just do a colour overlay style or an adjustment layer.
If it's flattened to might have to separate and cut out the elements you need to change by either colour keying them or cutting out by hand with the pen tool.