Thus all color and contrast calibrations should ideally be done through the shutters. If you have big bucks, check out the new projection systems that use a mirror system on a chip. These have zero persistence, but may not go to 120 hz. NView has info on these. This is the hard part.
Some computers are fast enough to update the screen for every frame.
TimeVideo will tell you what fraction of the screen you can update on every frame, for each pixel depth. Some video cards have multiple frame buffers than can be switched instantly. Unfortunately very few Macintosh video cards have this feature. The videotoolbox has routines to access these buffers. I get 4-bits per channel for each eye.