I found where Hueter was pointing us to and nothing was greyed out for me:
Went to the directory specified and opened the Color Sensor VI.
Tools - Choose Environment - LabVIEW (native)
File - I was able to change the execution properties and checked the 'non-reentrant execution' bubble. Okay - it took. But, when it came to 'SAVE'...
The folder containing this VI is 'read only' - so to save it I would have to give myself 'permissions' to do so. Would it be better to create a copy of this VI with a slightly different name, and then store it in the project, and call out to it instead?
What would be the recommendation here?
(Note: regarding the 'greyed out' - I know that I had to manually activate my 'Full Development System' block in the LabVIEW Components tree by right clicking and 'activate' -ing it (from the Help menu). Could this have anything to do with it?)