FINALLY I DID IT!!!! No more Shaders/Shadows problems in both VS4 and VS4 ver. 2006. Here you can find complete procedure and settings!
Simply do not use Crediar Dolphin version embedded within Teknoparrot..
I've downloaded and extracted into my personal EMU folder latest Crediar Dolphin standalone version posted here into this thread by hippohippo few days ago.
I've downloaded all Virtua Striker roms from here: triforce-roms directory listing
Once downloaded, I've renamed all .BIN files into .ISO file extension (simply by Windows explorer, right click, rename file)
Before opening Dolphin.exe, I've created an empty file named portable.txt in the same EMU folder where I've extracted Crediar Dolphin Archive.
Some extra tweaks are now required.
Open Dolphin.exe file and double click in the middle blank panel to set your ROMS directory (the one where you've downloaded and renamed rom files into .ISO extension)
Open Config > Gamecube and set Device Settings drop down menus like mine here below.
Verify that Config > General settings are set like mine here below.
Now it's time for the Controls, that are completely messed up.
Open Controllers and set both Port 1 and Port 2 to Standard Controller from drop down menu (take a look to the screenshot posted here). Then click on Configure button of each Port 1 and Port 2 and set your controls, based on your input type (joystick, keyboard).
Please consider that the controller labels are completely wrong. Here you can find a picture of the real control commands, labeled in red font, so you can set them to your preferred buttons (look at the screenshot).
My suggestion here is to Save all the configured controls into a Pad Profile (top right of the Gamecube controller configuration panel) that you can reload when you launch any Virtua Striker game, after playing to other games like F-Zero.
Now, after you have set controls and controllers, close everything, Dolphin included and then re-open it.
Go, once again into Controllers and set both Port 1 and Port 2 to Triforce AM Baseboard (look at the screenshot posted here) and close the panel (do not touch anything else here).
Now, click on Graphics and set everything exactly like my graphic settings (4 screenshots posted here, one per each Graphic setting panel).
Of course your GPU will be different, but the graphic settings can be adapted to any recent GPU.
I've solved the Shader/Shadow problems by checking "Skip EFB Access from CPU" in the Hacks Tab of Graphic settings.
So, now you're ready to start any Virtua Striker Game! Simply double click on it from the Browse list.
Once started, if boot firm menu appears, enter in the SERVICE MENU by pressing the associated button on your input pad and then EXIT from that menu, ensuring it is selected with the white arrow on the left, by pressing the SHORT PASS associated button on your input pad. This one time action will skip that boot firm menu forever.
Then, you should reach the Controls Calibration menu. Move your analog controls associated to your input pad and press START button associated on your pad. This one time action will skip that controls menu forever.
Emulation works flawlessly at 60FPS, no bugs, glitches or anything else, it's like playing on the original arcade board!!
Insert your coins, via the associated button, press START and ENJOY!!!
Now, I just need to understand how to activate Player 2 CARD and Controls and how to set some Game Patches/Hacks to extend time, change rules and so on.. let's stay synced up!