Need more info. Lights? Spectrum? Wattage?
IME, just because it is a deepwater doesn't mean it can't be placed high.
Several factors affect color.
Light Intensity
Flow
Nutrient Level (Phosphates etc)
If other corals have great color and no issues, then it could be flow or intensity. Deepwater's generally don't need as much flow and I've seen thrive in high light.
How long have you had the coral? If the color loss was in your tank, then you might need more or less light depending on what is in your tank currently.
If you received the coral with the color loss, give it a month or two and see if all new growth has the color. If so, the rest will color as well. If after a month, you see no color, then move it to a different spot in the tank.
If it is a nice size piece, another trick is to place it on both sides of the tank. Whichever piece does better and colors up, remove the other frag and glue it right by it. That's a good way of finding the best color/growth for a given coral.