Here's a sample of the picture on Slinbox.com...
Bear in mind that this same image (paused) on my TV right now looks perfectly fine, even though the signal first has to pass from the Slingbox to get to my TV.
Slingbox.tiff 452.9 K
It seems that you are having some issues with your Slingbox SOLO since the video signal shows wrong colors.
As the first step, I recommend you to connect a different AV source (such as a DVD player) and test if the signal shows the same behavior. The second option is to use a spare set of Component cables just to determine if the issue is related to the Component set of cables in use.
If the issue persist, I recommend you to contact us. We will offer you the available support options according to your Slingbox activation date.
Hope this helps,