I had the same problem with the 1.52 version, and yes, that IS the one Squall was talking about... it makes Link VERY blocky in the subscreen and sometimes the actions that were going on ~on~ the screen before you pull up the subscreen will "bleed" and run slightly (like a motion blur effect) across and underneath the menus. Plus there does seem to be slight visual errors while using that plug in with most games... but it ~is~ a "fix" if you want to not have Link turn into a big white block in the menus.
I'd recommend trying to stick to the 1.6 version, because while Link DOES turn white, and you will experience a few moments (as you open the subscreen) of white blur, it does work a LOT better overall. Hopefully (and I'm betting it will) a newer version of Jabo's plugin will come out officially with the 1.7 release, and that "bug" will be fixed. For me I don't get the "white block" Link, but it does blink white before I pull up the menu, and Link will turn into the white block for a moment before he transitions.