Pretty sure the correct term is "pixel inversion". Every LCD screen does this (a panel would fry within seconds without it), but generally panel manufacturers calibrate it decently enough so that it's not, or barely visible. See...
duckstation is an excellent Playstation 1 emulator by Stenzek. It has a very good compabiility and it is quite performant. It also supports all kinds of enhancements such as high resolution rendering and PGXP which can lessen the "wobble" and...