There's a Sony chip inside the Megadrive that converts the raw RGBS signal from the VDP chip into composite (and potentially s-video). This chip also buffers the RGB signal and accidentally degrades it (blue specifically, it seems). We can get rid of the Sony chip altogether and build a new amp to get the RGB signal up to spec for a TV as Bearking did (kudos on that, btw), or thanks to Calpis' advice we can just remove the offending signal from the Sony chip.
Locate the Sony chip marked "Sony CXA1145". It's under the heatsink attached to the voltage regulators, so you will need to completely disassemble the Megadrive and get access to the underside of the PCB. Once you've got the usual case/RF shield screws out the way, unscrew the voltage regulators (do this before unscrewing the heat sink as it's reasonably heavy and can put some strain on them), then take out the rest of the screws by the cart slot, corner, underside etc.
Now, once you can see the chip, compare to this:
It's pin 6 we're after, note the indentation on the bottom of the chip in that diagram and compare with the chip itself for orientation. I clipped the leg with a pair of small pliers and then lifted it away from to chip with a tiny screwdriver to ensure no contact was being made.
Screw everything back together, job done.
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