Hi,
There is a colour profile setting in system preferences / display, but I have never touched this in all my years using Macs.
I have just updated two MacBooks one being a 2010 model without issues, possibly there is a hardware problem starting to raise its head. Personally I would take the Mac to apple care as it seems to have suffered from the update.
I agree if you were using pages etc then you would have needed to upgrade.
Other option is to revert back to Mavericks and then use a office suit like Open Office. Regarding going back to Mavericks to save a long post have a look at this vid.