I already thougt about removing the lower white part of the needle, but it'll need some more calculations.
I will also try with a grey transparent color.
In other cases, with a uniform background color, I had used this one as the transparent color to minimize the effect.
With your program I get also the wait cursor.
The problem is that you don't have a form and you launch the screenshot in the AppStart routine and when the program is started the OS shows the wait cursor till the end of that routine and it appears on the screenshots.
I tried different possibilities, without success.
The attached version with a message box before launchung the screenshot works. But I'm not shure if it's OK for you, as I don't know how you run the programm.