Are shadows enabled in game?? And what do you mean colors are wrong, can you please go into detail?
Make cup of tea and sit down fiddling with your settngs for a day It took ages for me to get images correct HDMI is the best...blue touch paper Blurry icons as stated is defo a graphics card setting sort
As a rule of thumb anyway, if you bought a new device and its picture doesn't look right, chances are you got a lemon. Get active, find out if the monitor looks bad also on other computers and on other cables and if it does you need to RMA it.
That's the conclusion I came to. I put my old monitor back on. It's too late to RMA it. I bought it last year for another computer and never got around to checking it out until Sunday.