If you turn off read filament on startup in your AMS settings it will then allow you to change colors and materials in Bambu studio! There must be a glitch for that feature because it was driving me insane!
It seems to have resolved itself with a cloud change. I did nothing to my printer but it started working maybe a month ago. Still on the 07 firmware. New issue is I can do a manual load filament with the app. I get an error doing that.