OK
Those wires are the RGB, common and SYNC for the monitor (5 wires), they go back to the board connector.
What you are looking at is the connection to the monitor chassis board.
If you wiggle these and the picture changes, then I expect that the pins on the monitor chassis need re-soldering, I have seen this heaps of times, its a very common problem.
Its hard to tell from the photo but if you can loosen the screws on the chassis board, you may be able to gain access to re-solder them.
You can see from the heat shrink that someone has changed the chassis at some stage and the old chassis must have had a different type of connector.
Once you have got this done give the machine another go and let us know what it does.
I really recommend changing to game board connector after that as it can cause picture problems also.
What I normally do is get a 56 pin JAMMA connector and convert the machine to JAMMA standard, then make a short JAMMA to game adaptor cable (Phoenix for you).
That way if you want to change games it is really simple to do instead of having to rewire the machine every time you change the game.
