All the same, typing details helps takes the guesswork out of it and get us oriented quicker. Blue looks misaligned but I think we're also seeing the other colors at wrong levels - either red is too low (the word "rings" is quite red, but maybe it's too dark) or green is too high (likely; there's a green tint over everything).
Another data point for this: Taking the first picture here, and then capturing a still of Sanic and Tales idle in the same place from
this video, and cropping both images to show roughly the same amount of play area (i.e., getting rid of the bezel of the PVM which shows a lot of green reflected, as well as most of the orange blocks from the YouTube screencap which don't show up in the photo - the only other obvious difference is "RINGS" shows in yellow in the screencap, but changing this to red only altered the following R and G values by less than 1%), I looked at the histograms:
Photo - avg. R 77, G 136, B 98
Emu cap - avg. R 86, G 94, B 94
So it looks like red is too low in the monitor, but the major story is green is way too high (relatively speaking). Blue looks actually consistent between the two monitors - and altering saturation of red and green (slight boost to red, big nerf to green) improves the color balance.
On a third try, I have to agree that blue is just shifted to the right everywhere. It's not noticeable in the grass, but looking at the screen edge, we see where the displaced blue is much more notable to the edge of the grass, and basically absent against the blank sky.
Incidentally the blank sky is almost black in the photo, but in reality it should be a very dark blue. This might well be down to the camera. However, I recall reading something a while back about the background of a title screen in Three Wonders looking wrong in MAME due to voltage levels doing funny things on real monitors that wasn't seen in the emulation. Hopefully that's not relevant to this case.
Still, the story here should be - everything has to be checked by eye and confirmed; pictures across the Internet aren't reliable, especially if some details (like the fact the Sonic 2 sky has a color) are easily forgotten.