55 inch with blue ghost like glow on white or blue colors

LED backlighting is found on the majority of flat-panel LCD TVs. LED lighting is brilliant, small, and energy efficient, but it has a cool color temperature that gives it a little blue tint. When seeing a white image, this feature is most visible, and when viewing other colors, it is considerably less noticeable.

You have a vertical output circuit problem. This was common for Philips' sets. Have a repair shop check it out. Should not be too expensive to repair.

The most likely cause is shorted convergence chips and possibly a few pico fuses.

These sets need to have all three colors - RED - BLUE - GREEN - lined up correctly on the screen in order for the picture to look normal. This is called convergence.

When its out of alignment the video will look 3-D, wavy, distorted, etc. Most of the time you just need to adjust your convergence in the menu. If you cannot adjust it in the menu - then your convergence is broken and needs to be repaired. Convergence problems are very common on all Projection TV sets including Sony,Samsung,JVC,Philip Magnavox,Panasonic,Akai,Pioneer Hitachi,Mitsubishi,Zenith and others.
You can get a convergenece repair kit with instructions from the links below.

Here are some of the most common problems with these sets...

Problem #1) Convergence

Yours may have one or more of the following symptoms...

*Screen Looks 3-D
*Colors wont align
*Screen may look distorted or warped
*No Audio/Video - TV Shuts down - May also make a constant chirping sound

Problem #2
Another common problem is dull or washed out video.

Your set may have one or more of the following symptoms....

*Dull looking picture
*White looking picture
*Halos around objects
*Red/Orange looking picture

You can see some more examples and find a fix here http://www.fixya.com/support/r2861467-solution_video_looking_whiteish_dull

Same problem here, wish I knew how to fix it... I noticed it can be helped a little if you adjust the convergence from the menu using the remote though.

the color issue is most likely the crt coolant needs to be replaced you can get the phillips CRT coolant replacement kit at the following link which contains the coolant and the instructions on how to do the replacement.
http://servicemanuals.vstore.ca/
The crack you hear could just be the speakers or a intermitant ground problem in the audio circuit more likely the spealers if its only on strong Bass

need to cahnge the coolant in the Blue CRT thats a very common problem with phillips in the blue and green CRTs

Projection TV tubes have a liquid coolant that is used to keep them from overheating. After many years the coolant in the blue and green tubes will become cloudy and cause the screen to look dull, red/orange, etc. You may even see halos around images. 

What you will need to do is replace the coolant and clean the crt. You can get a repair kit from www.TvRepairKits.com that includes replacement coolant, photos. instructions, etc.

Projection TV tubes have a liquid coolant that is used to keep them from overheating. After many years the coolant in the blue and green tubes will become cloudy and cause the screen to look dull, red/orange, etc. You may even see halos around images. 

What you will need to do is replace the coolant and clean the crt. You can get a repair kit from www.TvRepairKits.com that includes replacement coolant, photos. instructions, etc.

it seems as you need your tubes re-alinged dont get riped off by tv experts saying it will cost you loads if you have a screw driver and a gentl touch just re focus your red green and blue-simple cost you nothing

i suggest to have it check by a qualified service technician. there seems to be a problem with your crt (cathode ray tube). because inside this projection tv are 3 crt guns responsible for color red, green and blue, which only qualified technician can adjust it and replace if it is necessary.