I also replaced the color wheel in my EP739 after the old one disintegrated suddenly. Colours were then all over the place. Actually, it looked like each colour channel was displaying all the colours of the rainbow!
Here is the procedure I used to solve the problem - maybe not as elegant as Marrie's solution, but it will not cause any damage, will most likely solve the problem, and you will be able to get everything back to the way it was if it doesn't work:
- Have the projector running and displaying a stationary picture. The right sort of picture to use is one that has a full range of brightness values from near-black to peak white. I used my lap-top as the source. Also, this way you can compare the projector's picture with the picture on the lap-top.
- Press the power button once. "Power off the lamp" dialogue box appears. Hold down the left arrow button until the service menu appears (takes about 8 seconds).
- Using the up/down arrow buttons, scroll down to "Color Setting" and press "enter".
- Scroll up to "Color Wheel Index". Make a note of the existing setting for later reference. You can change the Index setting over a range of 100 to 550 by holding down the left/right arrow buttons. As the setting changes, the colour rendition will slowly change, and at some point the colours will come right. Note that the changes are quite slow. Find the lower and higher settings where colour aberrations just start to appear, and set the Index mid-way between.
- If this doesn't fix the problem, return the Index setting to original. My original setting was 354 and the new setting was 461.
I do not advise touching any other settings in the service menu unless you have access to a service manual and know what you are doing.