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Been wondering about this for a while now, but what does this thing mean in the title bar?

Should be the interlaced field/frame indicator I think. But instead it's showing the name of the string itself.

Old ini file (badly handled). Delete it and retry (or only the line that contains omodec

This happens when you use an old INI file which had the ${omodec} string along with a new version of PCSX2, deleting the INI file will fix it as gregory suggested.

That explains it yeah. I use one folder for all my ini settings for each pcsx2 version. The only ini that got remade recently was my Lilypad file because it randomly stopped detecting my controller for whatever reason. After it was made anew it worked again.

Just did a remake of all the ini files actually. Including GSdx and SPU-2. Everything seems fine now.