I have the exact same Inspiron which I just bought for Christmas and it happens to me as well.  

TrueColor is in the program list::   Control Panel\Programs\Programs and Features

 I've selected it and choose to change/repair it.  It requires a reboot and I'll do that later... I hope the message goes away because it's annoying.

Got an inspiron on black friday & get the same message, tried the repair/restart but get the same message. went to dell trucolor download & extracted the update but get same message, I Guess I will try to uninstall &  reinstall the truecolor program to see if that works ?

Googled Dell TrueColor & found the TrueColor Download on Dell.com & Seems the only solution to the message error is to uninstall & reinstall the TrueColor Program ! I am not getting the message error anymore after the uninstall & reinstall program restart . 

Had same problem since black friday when I got my inspiron. The only solution is to uninstall TrueColor Then Reinstall TrueColor/ Restart . No more message error. I googled Dell TrueColor & found the free download on Dell.com

     We bought the same machine; received 2 days ago with the same problem.  Talked with Dell Support.  After trying a few fixes, which did not work, they uninstalled it.  They said it wasn't really needed, so we decided not to reinstall.  It appears to work fine without it.       Other computer issues:  1)  whiten and fuzzy text and screens/windows (fixed by D.S. by a recommended driver update);  2) Charms Bar that kept opening at strange times (even when cursor was in middle of page); fixed by a registry addition by DS which totally disabled the Bar, at our request; 3)  iTunes which, when closing, would give the message that another program was using its script (this was fixed by following a suggestion on another thread to uninstall the BlueTooth program.  I did this and it appears to have taken care of the problem.

Disabling something is not fixing it :(  That's more like giving up. The actual fix to the true color program was released today becae of forums like this. don't turn things off and disable them. ask for help and wait for updates.

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u[date and restart. fixed my issue

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I still can't fix it.  Every time I try to uninstall or do anything it just says restart is required.  I restart and it gives me the same error.  Good idea to the person who suggested turning it off because I don't know what to do.  It won't let me do literally anything.  I can't believe this dumb thing took over my computer.  I'm not happy about this.  My computer is brand new (4 months old). 

dear artimusprime,

i am receiving this true color error upon startup. I installed your fix and restarted my laptop but still receive the same error.  what would you suggest at this point?

thanks,
doug

I Googled the true color program an found an update, it fixed it for a day. I then called dell and requested a free copy of the recovery disks for safe keeping. Uninstalling true color was the final fix. It is just extra enhancing software that to be honest I couldn't tell the difference. It was very little impact.