Eidophor
en.wikipedia.org
en.wikipedia.org
And now searching the internet, they really did have this technology (see the comments):
https://hackaday.com/2016/03/15/retrotechtacular-eidophor-an...
"When I worked at the BBC West London studios in the 70’s we regularly used Eidophors for back projection"
It does have an effect on persistence of the image, but my understanding is that the disk was slow enough that movement was negligible compared to how fast the oil deformations faded.
Eidophor has practically zero latency, same as a CRT - whatever the electron beam draws is immediately visible.
Presumably because it was a modulator of an independent light source, rather than the source itself.