Well I wouldn't say it "works great" on a Nook. I was disappointed to
see that "ghosting" of previous screens is in the background
of the current screen. Is there some way to correct this?

I can't speak for the Nook, but on the Kobo Touch, in reading settings
there is a setting for "page refresh" which refreshes the screen every
x number of pages - default is 6 pages. "this sets the number of pages
you turn before a full screen refresh occurs"

If a Nook has a similar setting, I'd set it at one, and try again.
They do it to maximize battery life.

I'm very curious on how well this works. Nooks use way less power and
are much more readable than most PDA/PNAs...