Don't everyone rush in with so many helpful suggestions, how am I supposed to keep up?
Anyhoo, I tried a Composite to RF converter and that didn't help, it is still in black and white. So if anyone else out there is listening, it might not be worth trying that.
Although, it does say it's in PAL, which is not what I needed it to be. That is assuming it is actually PAL and they haven't just written the Australian standard on the box to comfort people when the signal is actually a generic RF signal. I don't even know if RF comes in PAL and NTSC varieties.
Also, I have heard the N64 is a little testy when using 3rd party RF converters, so it could be the idea is right and it's just a compatability issue with the hardware.
Back to the drawing board. I think it could be easier for me just to buy an Australian N64 from a used games shop. But then again I don't know if they will work on a new LCD either. Anyone else know?