This is a simple effect; it adjusts the hue of the entire image.
Only the Hue parameter can be changed through this setting. Values of 0 and 100 indicate no change in the image; values between 0 and 100 adjust the image color based on the selected hue value.
Setting Hue to 50 shifts the image color to red in the time lapse software preview window.
Note: this effect is available in the free version of Time-Lapse Tool.