For those of you with regular cameras you can also do this by setting your camera to shoot in RAW and then adjusting the white balance/vibrancy/shadowing/color in your favorite photo app (that supports raw of course).
This is without a doubt the best app I could have ever gotten! I am so stoked that I came across this thread. Here's one from an event I went to a couple months back.
I would say some of you guys need to explore ALL the options it has.. White Balance Temperature / Tint are good, Curves is good for generic color enhancement/removal or specific color targeting.
Shadow / Highlight is also important. Highlight is the bright colors, you can tone them down, the shadows are the darks, which you can brighten up.
Every photo is different. Sometimes removing color, and removing contrast will yield a better image overall.