To reply to my own post with more info...I believe this to be a bug with the Mednafen core and/or Retroarch. Possibly moreso Retroarch
Using the Vulkan renderer worked great for a while then all the sudden mid game my battle swirl went away and all i get now is a black screen with this as well. Same with the GL renderer as mentioned before if this is what you're reading. I replicated the same scenario with another device as well...
The swirls work fine initially then stopped working entirely for some unknown cause however i was reading this issue which had a very valid workaround:
Github-beetle
If on both OpenGL and Vulkan you want your battle swirlies and they just stopped working start the game, toggle ANY option on and off in Retroarch then resume the game and everything is fine. I cant believe i had not even tried that even by accident...
Edit: I ended up recording a video of this along with what actually works as a fix. Keep in mind there are NO core overrides and this is with stock retroarch settings which use OpenGL.