Basically this happens when you move the monitor or external source so that the magnetic field near the crt changes significantly enough. The color distortion is due to electrons deflected from hitting their supposed targets. When you degauss it, the magnetic field is cancelled out or something, and thus the color distortion goes away.
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Winchester 3200+ @2,500MHz
LeadTek 7900GT VOLT MODDED @ 680 core, 1800 mem
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