Changing point cloud display properties

You can change the point cloud display properties via the Global settings menu ("Cog" icon in upper right of the 3D View) under the Points tab. From here you can set display and rendering options such as opacity and brightness of the points in the point cloud. Most importantly, you can select the channel used to colour the points (eg. by height, or intensity) as well as a range that defines a mapping from the channel value to a colour.

A smaller set of commonly the most used display options can also be accessed from the "Cog" menu next to the Point Cloud layer in the Datasets tab in the Left Panel.