Display Turning Awkwardly Compressed and Black & White

Hi,

On My mid-2010 Macbook Pro 15", the display goes awkwardly compressed and black & white occasionally ( see the attached images ):

1. It often happens after a while of boot.

2. With an external display connected, when the built-in LCD went bad, the external display went black completely. It looked as if the external display stopped receiving any signals from my Macbook Pro.

3. When the problem occurs, if you rotate the screen to the keyboard so that the Mac goes sleeping, then turn it back on, the issue goes away. But after a while, it my occur again.

The computer is out of warranty. Any suggestions what I should do?

Many thanks.