You should be able to see the change on the LCD. It may be that you need to get a warrantee service. Make sure you have a colorful subject in the viewfinder and then when you cycle through the options of Cinema Subdued, Cinema Vivid and Standard you should see a change.
You will love this camera though! I have had one since late last year when they first came out and it is much better than my old EX-3 in many ways. Prepare to enjoy!
Adobe CS6 Production Premium
Apple Certified Master Pro FCS 2