Play DemonFront in a emulator

If it is anything like the color issues that Age of Kings has with Win 7 64 bit, you could try going to the Task Manager and ending the explorer.exe task, and then going back into the game.

With Age of Kings, you could start the game, ALT-TAB back to Windows, open the task manager and end process on explorer.exe you will lose all the Windows toolbars and things when you do it, but you can then ALT-TAB back into the game and the colors should be fixed. (In Age of Kings the graphics errors made the water bright purple.)

If you leave the task manager up, once you are done with the game you can just go to run and type explorer.exe to get Windows back up again.

A video driver bug is the most likely culprit. Try running mame in a window instead of fullscreen with the switch -window. You could also try -video gdi.