Definition: A term used to describe a visual effect regarding Digital Light Processing televisions. Since DLP TVs bounce white light off a fast-spinning color wheel onto a small prism-like structure made of millions of tiny mirrors, a minimum of people notice a glitch in the picture that is best described as a rainbow of colors. Rainbow effect can be very distracting. It is noticed mostly in white colors on black backgrounds.
Examples:
Did you notice the rainbow effect of colors around the words when the credits rolled at the end of the movie?