I do remember being disturbed by the colors...but Streetshooter AKA Don Springer helped me get around it and I think I ended up with some pretty nice photographs with that camera - if I do say so myself.
So hang in there! What are you using for post processing software? Certain types are awfully helpful. I believe I shot the LX5 in RAW...so I can't really speak to in camera settings. Ray is very good with the LX5, as are some others but Ray is around here more often than some of the other folks who I recall having the LX5.
We live in Westchester County in NY, near Playland Amusement Park...but plan on moving northward ho into Litchfield County, CT in the spring...if all goes as hoped for. At least it's not hot as you know what and not excessively humid today...though I can feel the humidity rising... This summer has been so weird just about everywhere!