You better believe it! Within the Calendar Admin area, click the General Settings tab. In the dropdown, select the calendar to which you want to edit. The general settings of that calendar will be displayed with an Edit button in the lower left. By clicking Edit, you will be able to change the calendar color, name, and/or assign a child calendar to a different parent calendar (Enterprise only). A summary of your calendars and their colors are displayed under the Calendar Organization section on the right-hand side of the interface.