Well, actually the JoomlaOregon site still features the older version. I haven't updated it yet
I think you can only get the colored backgrounds on the listing page, not the module. But when you create a menu link to the studies list, then edit that menu item, you can change the parameters for the component there to place a line between studies (and just clear out the colored background fields). You kind of have to look through the parameters carefully, as there are a lot of them.
I am just working on my own church's website. If you go here:
www.calvarychapelnewberg.org/
The front page is using the module - no colored backgrounds but a line, but the listing page (click on Bible Studies at the top) has a line and colored backgrounds - all available from the parameters.