I didn't realize that transfer of Ghostbusters was released on VHS. I had the Family Collection clamshell and while it was P&S, it didn't have those awful strobing pans, at least not that I remember. (FYI, I first discovered that version when Comedy Central used to run the movie in the early 2000s.)
Maybe it was released on VHS around the time of the 15th anniversary DVD?
About 8-10 or so years ago, Sony reissued a bunch of their catalog DVDs (Annie, Last Action Hero, Multiplicity, etc.) in full-frame only. All of them had similar HD-derived P&S jobs. They never reissued them in widescreen, and some of them still aren't available on Blu-ray in the States.
It's easy to forget crap like that was going on so recently. At least non-widescreen DVDs of 1.85:1 films were basically open-matte (unless it was an effects-heavy film like Honey, I Shrunk the Kids, where every shot with FX was in VistaVision and had to be cropped). P&S-only discs of scope titles were unforgivable.
I am so grateful that HDTV and Blu-ray basically killed the P&S menace (though a couple rogue 2.35:1 catalog titles surface in budget-priced P&S-only discs from time to time - possibly because they don't *have* a widescreen transfer and are too cheap to make one).
Even I'm amazed at how complete this paradigm shift has been. When the 2004 SE DVDs came out, it was still the P&S versions that were being given the standard gold color scheme to match the packaging of the (widescreen-only) prequels. Someone who wasn't aware that there were two releases, or that the widescreen release was silver, would just pick up the P&S one (and I know people who have absolutely no issue with widescreen who did this). The 2004 SEs in P&S are probably the ultimate butchery of the trilogy, apart from the 2011 mess.
Going back to the "Faces" releases, not sure about any unique color issues. Can you recall examples of what you heard, Antcu?
(I will also say that the PAL P&S transfers had more clearly visible starfields than the NTSC ones, due to PAL's additional vertical resolution.)