Here is my DIY post for Colorized DMD with DMD Extender by using instructions from Crash's thread https://pinside.com/pinball/forum/topic/diy-addams-family-poor-mans-color-dmd

The mod was done on Bally's The Twilight Zone (1993). It can be done on other pins too (check Crash's thread).

Why do I need this mod:
- putting colors to your old DMD based pinball machine!
- outgassed or just bad DMD display needs replacement
- less power consumption

Installation difficulty:
- beginner/intermediate (anybody can do it)
- no soldering required
- 2-3 hours for the whole operation

All parts needed:
- DMD Extender (http://www.drpinball.co.uk/) with LCD kit (great work David "Dr. Pinball"!)
- Raspberry Pi (model A or B, not B+) (http://uk.farnell.com/raspberry-pi)
- LCD 15.6 1920x1080 LED Screen LG Philips Lp156wf1 Tl F3 (http://www.ebay.co.uk/itm/321230847986?_trksid=p2059210.m2749.l2649&ssPageName=STRK%3AMEBIDX%3AIT)
- LCD controller for Lp156wf1 (http://www.ebay.co.uk/itm/181402193212?_trksid=p2059210.m2749.l2649&ssPageName=STRK%3AMEBIDX%3AIT)
- HDMI cable (short) (http://www.ebay.co.uk/itm/151248002360?_trksid=p2059210.m2749.l2649&ssPageName=STRK%3AMEBIDX%3AIT)
- *HDMI to DVI adapter (not required if you have an LCD controller with HDMI) (http://www.ebay.co.uk/itm/400739870553?_trksid=p2059210.m2749.l2649&ssPageName=STRK%3AMEBIDX%3AIT)
- 383mm x 131mm plywood (to hold LCD screen firmly on speaker panel and attack all PCB boards) (your nearest DIY store)

Links for all needed parts are EU buyer friendly! You may find better offers depending on your location.

Steps:
Let's start with putting things together...
Hook Raspberry Pi on DMD Extender by plugging it on 26-pin connector.
(Image #1.1 and 1.2)
20141026_001501-999.jpg
20141026_001530-546.jpg

Plug HDMI to DVI adapter on LCD controller (if you don't have HDMI on LCD controller)
(Image #2)
20141025_235735-766.jpg

Go the the pinball machine now, pull up the speaker panel and remove good-ol DMD display.
(Image #3).
20141026_003049-937.jpg

You won't be needing it on this pin any more.

Look for the jumper to connect the POWER IN for DMD Extender (which also powers Raspberry Pi and LCD screen). On Twilight Zone with WPC-89 board this is J116.
(Image #4)
20141026_003526-683.jpg

Use the power splice (supplied with DMD Extender) if you already have a connector plugged into J116
(Image #5)
20141026_003521-399.jpg
*If you have a different pinball machine check Application notes by Dr. Pinball http://www.drpinball.co.uk/documentation_applicationnotes.htm

Plug-in the power cable on DMD Extender where marked "POWER IN"
(Image #6).
20141026_003643-778.jpg

Use the POWER OUT to power the LCD controller.
(Image #7).
20141026_004840-845.jpg

Connect Raspberry Pi HDMI out to LCD controller with HDMI cable (* + HDMI to DVI adapter if needed).
(Image #8).
20141026_005001-321.jpg

Connect LCD controller to LCD screen.
(Image #9).
20141026_000115-603.jpg

Connect DMD cable that was previously plugged into DMD screen to DMD Extender's "DMD IN".
(Image #10).
dmd_in.png
You don't need DMD OUT as on the picture. It's just to keep old DMD connected together with LCD screen.
(* Note the red wire. For details check here http://www.drpinball.co.uk/documentation_applicationnotes.htm)

Now that we have all cables attached we need to configure the SD card by running the app on SD card (The app is for Windows only).
You need to set up Screen Type – HDMI/DVI, Screen Aspect Ratio – 16:9, Screen Resolution – Medium and Dot Matrix Type – Bally/Williams (if you have Bally/Williams machine).
(Image App #1, source Application Note on http://www.drpinball.co.uk/)
app_1-97.png

* I'm using Linux so I started with an old Windows PC to see which files are changed so I can edit them "by hand" later. Those files are config.txt and pinball.txt, where RGB colors for all shades are stored.
** As a TODO in the future, I'm thinking of putting a WiFi USB on Raspberry Pi and change those files through SSH connection. We can discuss about this here.

I didn't set up the SD card at first, so I didn't get any output on HDMI. Be sure to configure SD card first. Else the default setup will try to output video via Raspberry Pi's composite port.

If everything was done correctly, put the SD card into Raspberry Pi SD card port and power on the pinball machine.
After Dr. Pinball logo (3-5 seconds) the picture should show up on LCD screen.

Complete the installation:
If we got the picture on LCD screen, we can install the whole thing on speaker panel.
We already removed the old DMD screen. Now put the LCD screen between 4 screws where the old DMD was and leave a 1cm margin on the bottom so it can fit when the speaker panel is mounted.
(Image #11)
20141026_105351-525.jpg

Cut a 383mm x 131 mm piece of plywood which will hold LCD screen in place and also serve as a mount plate for other components.
Use a cardboard from old DMD's back as a template and drill 4 holes.
(Image #12.1, 12.2).
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20141026_101536-265.jpg

Stick the foam strip on one side of the plywood (between the holes).
(Image #13)
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..and gently screw it on speaker panel.
(Image #14.1, 14.2)
20141026_105533-189.jpg
20141026_105549-253.jpg

Now you can stick all other components on the back of the plywood by using adhesive PCB mounts supplied.
(Image #15.1, 15.2).
20141026_111105-969.jpg
20141026_111054-544.jpg

You're done!
(Image #16)
20141026_111124-51.jpg

Now put the speaker panel back and boot it up.
(Image #17.1, 17.2)
20141026_111511-41.jpg
20141026_111540-582.jpg

You now have a Full HD colorized DMD/LCD and you can adjust the screen position and choose any color for different shades of orange you had before.
(Image App #2 - configuration utility, source Application Note on http://www.drpinball.co.uk/).
app_2-212.png

Few more pics of Colorized DMD on Twilight Zone.
Colors I used:
100%=E5E5E5
90% =F27900
75% =0000A0
0% =000000
(White, Blue, Orange, Black)

20141026_112756-42.jpg
20141026_113505.jpg
20141026_113517-546.jpg

Hope you liked this DIY. Now let's start colorizing our old DMD machines and play with different color setups!

_{Post edited by ALY: Share colors used in config.}

@dung, you can still keep the original DMD if your buyer wants the original. I still think this mod adds to the value.
It's a plug-n-play solution. It looks ok and you can unplug it like the original DMD. Also you can put it on any other machine any time.

@2Kaulitz, Fish Tales looks good in green!

@rygar, it was about 210 eur including shipping for me.

After 3 weeks of playing TZ with this color DMD I can say that it makes a big difference and I'm totalling keeping it instead of the original DMD.

The list of parts I put in the first post is EU buyer friendly. No customs included if you buy an LCD screen from UK inside EU for example.
Also all the links are still working.
For other buyers outside EU I would suggest using the links on your thread.

Thanks @dung.
It's always a gamble with DMD Extender because only David (drpinball.co.uk) is selling them. Good to hear he's redesigning it for new Raspeberry Pis.