I am also pretty excited about this new Software and the functionalities added (Webinterface, use of a 2nd Controller on the same input for controlling vehicles etc.) and whether it will work on legacy devices like the Raspberry Pi 1 Model B (with 512 MB). Btw, I just got mine for about 10 € on eBay :-)
Currently, I'm testing the "Chiaki for the Raspberry Pi" fork from Fredrum on it. What interests me the most is how you got rid of the annoying "purple flicker" problem. I did a little bit of research and found that the Linux usbhid driver can be manually configured to define the polling interval (for mice (usbhid.mousepoll), joysticks (usbhid.jspoll), and keyboards (usbhid.kbpoll)).
Unfortunately, appending either of these settings to /boot/cmdline.txt didn't do the trick for me...
usbhid.jspoll=0 (auto detect polling rate of the Joystick/Gampad)
usbhid.jspoll=1 (setting 1000 Hz forced polling rate)
Chiaki compiled fine and somehow runs on my Raspberry Pi 1, but I still haven't got it running anywhere near perfect. Although I disabled the decoder in Chiaki's settings, it still causes a high CPU load. The controls via XIM Apex run, but after a while the connection is lost (missing heartbeat).