I like the expand method described a couple of times above. But if you still want to tweak colors further after you already finished your live trace you can still easily recolor either a single section of color or all like-colored sections.
1) To pick a specific section to recolor. Just click a specific section with the direct select tool then change the color to one of your liking via the color palette tool/window.
2) To recolor all "like-colored" sections (all sections that resulted with the same live trace color) just switch to the Direct Select Tool and pick one of those areas with the color you want to change. Then go to "Select" in the menu > "Same" > " Fill Color". Now just change the color in the color palette tool or window and you're set.