Strange DVD Technical Problem — DVD Tech — DVD MP3 AVI MP4 players codecs conversion help

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I recently bought (off eBay) a copy of a quite rare movie. This DVD,
when shown, looks like it has been
shot through a sheet of Jello. This effect is complete and continuous.
I can only speculate that this
movie has some serious video jitter introduced in the copy process (the
audio side seems fine). It also
appears that the movie was transferred from PAL to NTSC.

The questions are:

1. What happened to produce this problem?
2. Can the DVD be cleaned up to remove the problem?

All comments considered with thanks.

Marv