I've been seeing flickering video in Media Player Classic. It happens fairly frequently and never occurs with other media player like VLC. I've used both the latest build of Media Player Classic Home Cinema and the 1.60 version but the problem persists.
I also tried turning on "deinterlace" in the shaders but it didn't help.
More aboutflickering video issue
Stick with VLC.
I can't. The colors look horrific. Here's an example with MPC on the left and VLC on the right.