Project 4 Question - How to change the LED color, reading the serial print

First of all we'll need a good, clear photo of your circuit to see how you have wired it up.

Secondly to slow down the screen prints without blocking you will need to investigate the 'Blink without delay' concept. There is an example with the IDE. You could just add a delay(1000); at the end of the loop but that stops your script dead for the interval specified.