If I'm following the discussion correctly, that's true, but only if A.) we're talking about a composite NTSC signal (which is what you would generally be dealing with in the 90's), and B.) it wasn't darkened a bit instead of shifted wholesale.

So long story short, if you're watching VHS, Betamax, or Laserdisc, it's going to be a problem pretty much no matter what. If you're watching a more modern format like DVD or Blu-Ray, which keeps the luminance and chrominance information separate natively, then it's only an issue if you're using a composite connection for some reason. Switching to HDMI, component, or even an S-Video cable would take care of the issue in that case.