The four arrows in a diamond like layout with the Enter button in the center, the Menu button is between the left and up arrows, and the ESC button between Up and Right arrows. The left and right arrow buttons double as volume control up/down when not using the menus, and the Up/down arrows double for keystone correction. That leaves just one more, the HELP button, whose function is described elsewhere.
Epson hasn't really changed its menu look, and structure is several years. Overall, it's a pretty good layout, that I have always liked.
Text is large enough to readable from a respectable difference. The menu itself can be positioned in different locations.
The Color mode selection is located on the Image menu (typical) and gives a choice of 7 options. You can see the choices in the image below.
There are four main menus. In addition to Image, there are Signal, which mostly deals with aspect ratio, and controls relating to hooking up a computer.
The Settings menu has one key setting, the lamp brightness control (I prefer when that is part of the Image or Picture menu). It also controls keystone settings, volume control and offers the ability to lock the projector's control panel, a feature probably here, because it comes from the Epson Powerlite W6's feature set.
There is also an Extended menu, where you can decide to put in your own Logo to project when there is no source, projector orientation (front/rear, ceiling/table), Control of the USB ports and menu language.
Epson puts its Reset on a separate main menu, although some menus have their own resets of only their features.
Lastly, there is, as is typical of almost all projectors, an Info menu which keeps you apprised of lamp life, input source and other "useful" tidbits.
Home Cinema 700 settings menu
Home Cinema 700 colormode menu
Home Cinema 700 extended menu