Crazy, psychadelic graphics issues?

Here's a youtube link to see exactly what I'm seeing: https://www.youtube.com/watch?v=Oy8uQTAr... It happens just like this pretty much every time I turn on the computer.

First of all, the graphics look perfect when I hook it up to an external monitor. I only experience the problems on the built in display. So I know it's not the video card.

When I boot it up, the gray screen is more of a green than it should be. The apple is kind of pixelated almost. When I boot into the install CD, the colors are mostly right but it's still kind of pixelated. Then everything will phase out into an inverted color scheme and the screen will go blank (but the external monitor is still working).

Do I need to replace the LCD panel or the inverter or the cables? I'd like to avoid buying parts that I don't actually need.

Any help would be GREATLY appreciated. Thanks!