The Schmidt measure was introduced by Eisert and Briegel for quantifying the degree of entanglement of multipartite quantum systems [Phys. Rev. A 64, 022306 (2001)]. Although generally intractable, it turns out that there is a bound on the Schmidt measure for two-colorable graph states [Phys. Rev. A 69, 062311 (2004)]. For these states, the Schmidt measure is in fact directly related to the number of nonzero eigenvalues of the adjacency matrix of the associated graph. We remark that almost all two-colorable graph states have maximal Schmidt measure and we construct specific examples. These involve perfect trees, line graphs of trees, cographs, graphs from anti-Hadamard matrices, and unyciclic graphs. We consider some graph transformations, with the idea of transforming a two-colorable graph state with maximal Schmidt measure into another one with the same property. In particular, we consider a transformation introduced by François Jaeger, line graphs, and switching. By making appeal to a result of Ehrenfeucht et al. [Discrete Math. 278 (2004)], we point out that local complementation and switching form a transitive group acting on the set of all graph states of a given dimension.