The emulator has become advanced enough to support more than just black and white - now it can render 4 levels of grayscale, just like the actual Game Boy! There is some flicker present, but it's not enough to be intrusive. It's also possible to change back to black-and-white with the press of a button, for those who want to squeeze as much speed out of the emulator as possible (though the grayscale isn't any slower than the 50% and 75% zoom modes).
I didn't feel like including sound in this video, especially because it would just be out of sync like last time, but I assure you it still works well. =) I put in some Zelda-themed background music instead.