New 2 variants, now palette colors should be way more accurate to original games but with some changes.
v2.8 has intense rainbow lines for whoever may like to see them more intense and v2.81 is the one with accurate rainbow lines with 95% accuracy (from my perspective) since v2.7.
This is some demostration playthrough with my limited 10 years old computer to check the rainbow effect with composite modded preset. https://www.youtube.com/watch?v=sfGsi85zB4w