How do you recolor a video?

What do you mean by "recolor"? Do you mean to change the colors in th video? such as the hue, the saturation or changing to another?

I haven't tried before. So I'm thinking whether you can achieve this by adding a filter to the video file.

I'm using Womble MPEG Video Wizard DVD, and I know that some filters it provides can change the colors in the video, e.g. the Color Balance filter, the Color Pass filter and the Color Replace filter, etc. Import your video onto the timeline, and drag and drop the filter into the video clip.

You may give it a go.