How to "trim" bodies in an assembly in Solidworks?

I don't think there is anything that easy in the assembly level but here are 2 different ways I would do it instead of opening every part and finding the sketch etc...
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Step 1:
OPTION 1
Right click the part you want to change and click "Edit Part"
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Step 2:
This will let you edit the part while you are in the assembly.. (Makes everything else transparent)
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Step 3:
Select a suitable face, and create a sketch on it
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Step 4:
Select "Convert Entities" from the ribbon or Tools>Sketch Tools from the menu bar. Then Select the inner diameter of the green Cylinder, and click the green check.
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Step 5:
It will project that circle to your selected face in that part, click OK.
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Step 6:
Do an extruded cut and select the region between your newly created circle and the purple cylinders outer diameter. Select "Through All" instead of "Blind" and accept.
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Step 7:
Return to your assembly and the purple cylinders O.D. now matches the green cylinders I.D.
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Step 8:
OPTION 2
Right click the feature you want to change and click "Edit Sketch"
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Step 9:
Alter the value to the desired size. (1.625 to 1.500 in this case)
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Step 10:
Click OK, exit the sketch and return to the assembly.
Hope this helps!
-Adam