Found the issue, it's because I had a HDMI converter plugged in and forgot I had switched it from the offical Nintendo Component cable. I just received 2 days ago and was playing Wii titles with it and just tried out Nintendont today, as it completely slipped my mind.
Official Component works with default settings @ 480P 60Hz, yet for some reason the HDMI is switching video signals (probably forcing NTSC into PAL 50 or something) before the game actually boots up. Here is HDMI converter I used in case others have issues with one.
http://www.ebay.co.uk/itm/NEW-WII-T...387200?hash=item2ef09e13c0:g:4zkAAOSwyLlXo3vi
Official Component works with default settings @ 480P 60Hz, yet for some reason the HDMI is switching video signals (probably forcing NTSC into PAL 50 or something) before the game actually boots up. Here is HDMI converter I used in case others have issues with one.
http://www.ebay.co.uk/itm/NEW-WII-T...387200?hash=item2ef09e13c0:g:4zkAAOSwyLlXo3vi
Maybe is a bad one? I have something like that and it works fine. I use it on my mom wii for her tv, I never had problems with nintendon't then again i never tried playing NTSC games with a pal system since i don't own one. 
