This is how EaselJS works. You have to redraw the Shape to change it. This has a minimal impact on performance because the shape has to be drawn again any time the Stage updates.
The best way to do this is to have a redraw routine which clears and draws the shape when it changes.
You could check out the Graphics.inject
method, which is a way to inject variable instructions into a Graphics path. There is a sample on GitHub called "Graphics_inject.html"