This app is only technically free. Once you download the "free" app, you have to download in-app purchases to get most of the filters and effects. I almost deleted it immediately. But I said Ill give it a chance and pay to download one of the packs of filters -- and they looked very, very similar the free ones. Plus, both the free filters and the ones I paid for look a lot like Instagrams native filters. Finally, the interface is not really user-friendly.
Summary: There are better photo apps that are truly free, or with better (and fewer) in-app purchases.
blanchedvreaux about A Color Story: Photo + Video