How many cans of spray did you use? :-)
You were giving the 24.576 MHz crystal next to the chip a pretty good spraying. It might be slightly involved in correctly interpreting the colour signal from the composite video.
Composite video is pretty lame and you're spoiled by digital video. Perhaps you're picking up interference of some kind from your lab/office. Those L+R+Video cables can be pretty grotty, and you have the cover off the back of the set.
The chip is probably supposed to do various picture improvements under some circumstances. Maybe it is something to do with that. Hopefully you can turn it off with a remote control.
The first DVD segment, before you started with the freezer spray in the video, there seems to be to be a barely visible horizontal band that slowly drifts down the TV screen, made a bit more obvious by your edits to the video. This could be just an effect of the different scan rates of the DVD output and your video camera, but could also be interference from another video signal, or other RF interference. It seemed like it got bluer in the top area while you activated the sprayage, but that could have been the camera, or some artifact of the video compression process.
The second DVD segment, where you get the colour splotches, the various cables around the TV had moved a lot. The VGA to composite box has gone (the composite cable was pretty tangled up with this previously), so perhaps you're no longer getting video interference from the VGA cable or converter output. So perhaps you have a cleaner video signal now, and the chip processing is doing some crappy "improvements" to the slightly different picture.
Composite video is lame anyway, and you'll probably never want to use it. Don't worry about it.
A pity about the component video though.