Change color for a complex logo without using Pen Tool?

I want to change the color of this MailChimp logo (png file) in Adobe Illustrator CC. I've looked in Adobe Forums and Youtube, all mentioned Live Trace, but I don't have that option in Object on the nav bar. So I have two questions...

1. Is Live Trace removed in Adobe Illustrator CC?


2. How can I change the colors of this logo?

Please help! Thank you.