Those darn Effects categories! Where is Change Color, anyway? Adjust, Image Control? Stylize? Next time you're searching for an effect, don't click the Effect Menu and search through the categories. Instead, choose Window>Effects, or press Cmd+5 (Ctrl+5). A handy effects search engine will pop up.
In the text box at the top, start to type the name of the effect you want. If you type D, the window will list all effect names that contain the letter D. If you type Displace, the window will list Displacement Map, Turbulent Displace and Time Displacement. To apply an effect to the selected layer, double-click its name. Or, drag the effect from the Effect window and drop it on any layer in the Timeline or Comp Window.