Even though the emulator download link is dead (and I'm genuinely not sure where I found it recently, sorry about that), I would like to add a few things on top of this based on my own experimentation:
The PC-98 version actually has its own fast-forward feature, so if you find the vanilla version of the emulator, you aren't at a disadvantage
The reason this fast forward feature is so obscure (aside from the manual being both Japanese and unscanned) is probably that the fast forward key (that WOULD be one key to the right of P - the pause key - on an actual PC-98 keyboard) gets mapped to END in Neko Project II (which, depending on your keyboard, you may have to hold down Fn to even use!), and there is unfortunately no way to change that without using other software.
If you wish to use the in-game fast forward feature, x32 for the CPU multiplier isn't the best choice. Much like the Windows version, fast forward speed is, to an extent anyway, dependent on CPU speed; somewhere near x8 seems to be the sweet spot for me--even setting the multiplier as low as x4 has only a small impact on non-fast-forward performance--but you may crank it a little higher for a faster fast forward if you wish. Do NOT set the multiplier any lower than x4 unless you want guaranteed slowdown and possible crashes.
As for the colors, there is a setting called "Real palettes adjust"--frustratingly buried in a dialog box--that can fix the colors. Go to Screen -> Screen option... and the dialog box will appear. Select the Timing tab and slide "Real palettes adjust" to its minimum value of -32, and the colors will be completely correct.
One last thing: by default, the few voice samples in the game are downright ear-piercing and extremely unpleasant to hear. This is only because the emulator is not set up for accurate playback of samples through the PC Speaker or the PSG by default. This time, the setting is buried in the .INI file...
which, by the way, only exists after opening the executable at least once. Search for the setting BEEP_PCM, which is set to 0 by default. Set it to 3, and the emulator will now use a different strategy for playing samples through the beeper and PSG, and the samples sound MUCH less bad as a result.