Yes, Height Adjustable, it's nothing new

I own a Dell 24" and having a monitor that is height adjustable is a must for me. It allows me to set the monitor at eye level and place a center speaker under the monitor, or in your case "inside" the books

Don't shoot me for trying to take care of my posture

We'll see soon enough the world suffering from an epidemic of osteoporosis lol.
And yes the monitor shows colors

With it's RGB backlighting and IPS panel it produces close to 100% perfect color