I'm Seeing Red Sparkles EVERYWHERE!

[YodaOz]

ive just managed to connect up an external monitor and the problem doesnt appear on the external monitor. does this suggested that there is a loose connected with the ribbon cable that connects to the display from the logic board?

 

[crap freakboy]

my dear Watson...That'd be my guess.
If it is out of warranty then perhaps its time to open it up to have a looksee if anything is loose/pinched. Goodluck.