Emulator

Game Name?
Sonic Colours (Europe)

Game ID?
SNCP8P

What's the problem? Describe what went wrong in few words.
Dolphin used to have an OpenGL-only bug that made all heads-up display in Sonic Colors invisible. The wiki even points it out:
https://wiki.dolphin-emu.org/index.php?title=Sonic_Colors#Missing_Hud_and_Menu
> The Menu and the In-Game Hud may be invisible if you don't enable "Custom Projection Hack" on "Game Properties"
This workaround didn't exist for some revisions, it broke OpenGL, but Direct3D worked fine without the projection hack. The recent revision 4.0-3748 broke Direct3D backend as well:
> D3D: Enabled depth clipping (PR #1346 from kayru)
> This fixes some of the inconsistencies between OGL and D3D. Some games are now rendered correctly, few others are consistently broken in both back-ends.
This PR also links to Issue 6914 which was fixed and it's now broken again (and it's also merged with Issue 7779 which seems to be relevant here). The claim that the issues of D3D and OGL are now unified is not true though, another issue I reported, Issue 7427 is still OpenGL-only

What did you expect to happen instead?
The HUD doesn't render anywhere in the game, in the title screen it's mostly black and you can only advance it if you have the save file ready and mashing A or 2 button. Here's a screenshot of two revisions, 4.0-3746 and 4.0-3748 in Direct3D backend showing the map of Tropical Resort
http://imgur.com/a/3t29c
And here's the FIFO log, you'll have to set EFB copies to RAM to correctly play it back:
https://mega.co.nz/#!p0Ii2axS!PmEoIuB_Z9zNuBVkF5SpGv40stuD_cKbuswTDRApQ-4

What steps will reproduce the problem?

1. When you launch the game, after the SEGA logo you'll see that instead of getting current controls confirmation dialog, the screen is fully black
2. Press A or 2 (depending on controls) and you'll hear a sound effect and the Sonic Colors intro will play normally
3. Continue through and on the Press Start screen, nothing but Sonic running with wisps is shown. Press Start or +, then A/2 (it should default on continue if you have a save file)
4. On select file screen, it's almost fully black, nothing but the file icon is visible
5. Later on the world select screen there's no cursor
6. On world map there's no stats
7. In-game there's no HUD

Dolphin 3.5 and 3.5-367 are old versions of Dolphin that have
known issues and bugs, so don't report issues about them and test the
latest Dolphin version first.
Which versions of Dolphin did you test on?
4.0-3748 onward are all broken, including the latest 4.0-3781

Does using an older version of Dolphin solve your issue? If yes, which
versions of Dolphin used to work?
4.0-3746 is the last version when it was working

What are your PC specifications? (including, but not limited to: Operating
System, CPU and GPU)
OS: Windows 7 64 bit
CPU: AMD Athlon II 2 X2 240 (2.81 GHz)
RAM: 2GB
GPU: GeForce GT 240

Is there any other relevant information? (e.g. logs, screenshots,
configuration files)
FIFO log:
https://mega.co.nz/#!p0Ii2axS!PmEoIuB_Z9zNuBVkF5SpGv40stuD_cKbuswTDRApQ-4
Screenshots:
http://imgur.com/a/3t29c