That res is way off... Download Smiff's latest rdb and that'll fix the res problems.
Remember, if you're using any E region of the rom, chances are you have to manually edit the height. Normally, that's 240 on the roms, some are different however, so, you need to manually add the entry for height and add a number after it.
e.g. :
[E97955C6-BC338D38-C:50]
Good Name=Legend of Zelda 2, The - Majora's Mask (E) (M4) [!]
Internal Name=ZELDA MAJORA'S MASK
RDRAM Size=8
Counter Factor=Default //2
Save Type=First Save Type
CPU Type=Recompiler
Self-modifying code Method=Change Memory
Use TLB=Yes
Linking=Global
Reg Cache=Yes
Use Large Buffer=No
Resolution Height=240
Status=Compatible
Plugin Note=Framebuffer:Subscreen(CD),Sun(EC),pictograph(?) Depth-Enable:Halos (-m.blur -day trans. /floors)
This is an entry for Euro Zelda, notice the Resolution Height=240 Sometimes you'll have to edit that manually (or add it) at the end of the rom's entry. (Zelda's Res is not fixed without either adding it or downloading Smiff's latest rdb.
Now, notice TWINE:
[3B941695-F90A5EEB-C:50]
Good Name=World is Not Enough, The (E) [!]
Internal Name=TWINE
RDRAM Size=8
Counter Factor=Default //2
Save Type=First Save Type
CPU Type=Recompiler
Self-modifying code Method=Protected Memory
Use TLB=Yes
Linking=Global
Reg Cache=Yes
Use Large Buffer=No
Status=Issues (plugin)
Plugin Note=(/weapon depth /sound)
Core Note=?
The entry is missing, and the bottom is cut off in the game. Weird isn't it? Just add the entry, I've heard 240 works well here, but... Sometimes it is not the case.
http://www.smiff.clara.net