It looks like you have the wrong refresh rate (more than likely to be too high) which is causing your problem. I recommend adjusting the refresh rate in display settings on your console. Apart from this small suggestion I can't be of more help. Sorry.
I can't see any options for that either, then again I am using a VGA connection and not composite. The settings for refresh rates might be in "Settings" -> "TV." I can't see anything in this screen as I am not using a TV and a very quick Google didn't give me any relevant information.