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I'm not sure of the engish term but I think it's retinal persistence. the problem is that the eye has not the same refresh rate on all it's surface. I got sensitive eyes and that's why I'm very picky about refresh rates. i need 80Hz to feel comfortable when looking at the screen. any lower i can see it flash.
Let's start with the question how do we perceive colour? Our eyes, when receiving light, measure not only its intensity, but also very roughly its wavelength. We seldom see really monochromatic light, usually what we see is a mixture of different wavelengths. Our eyes have evolved to perceive one particlular mixture, in which proportions of various wavelengths are similar, as in natural sunlight, as neutral or white.