I am now getting an error when I try to upload the code, 'Serial Port 'COM1' not found'
It probably isn't COM1. Make sure you have the right COM port selected in Tools->Serial Port.
If it's not that, then you're on your own - it's Windows 8 
The serial port menu is grayed out, and un-selectable. How do I change it?
This is frustrating, it is saying I need to change it under the serial menu, yet I cannot access the serial menu.
If the Serial port menu is greyed out, that means the Arduino IDE cannot detect anything connected. Try disconnecting the Arduino, closing the IDE, connecting the Arduino, and wait for the device to fully connect, then open the IDE.
That suggests that the Arduino IDE has not recognised the presence of any Arduinos connected to your computer. I haven't used the Arduino USB drivers with Windows 8 - is it a supported platform?