akrasna - I guess it's pay yer money and take your choice. For my Liteon (5002) the latest firmware update worked well and the green tint was virtually eliminated (still get the occasional twinge but nowhere near as bad as before). I have not suffered the jitter problem.
If you decide to go for it, download latest firmware first, and check that is working with the unhacked version first (tip - reset the machine to its default settings as the CDs often won't install until this is done).
Once you are happy with it, apply the hack to the version. The ILOhacker program (see other posts) works well and I would recommend you use that as it sorts out the right hacks for your version. Then install the hacked version.
BTW - I use verbatim 2.4x DVD+RWs on my Liteons with the best success. I have found most aother brands to be variable.
Of course, there is a risk in doing this but many have done it successfully. You have already taken this risk before.