-*-*WORK AROUND*--* A work around is to run the game in fullscreen mode. I have found that this fixes this issue. If you try to run the game in a windowed mode, it will look blurry and lag quite a bit. However, there is no option to run the game in full screen mode on some older versions, and trying to press F11 to get it out of full screen worked, but trying to press F11 to put it in full screen does not, so what I do is launch the latest version of the game and turn on full screen there and then quit the game. I then open the older version I want and it runs in full screen with no problems, just stay out of running Minecraft in a windowed mode when using any older versions of Minecraft.
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*-*WORK AROUND*--*A work around is to run the game in fullscreen mode. I have found that this fixes this issue. If you try to run the game in a windowed mode, it will look blurry and lag quite a bit. However, there is no option to run the game in full screen mode on some older versions, and trying to press F11 to get it out of full screen worked, but trying to press F11 to put it in full screen does not, so what I do is launch the latest version of the game and turn on full screen there and then quit the game. I then open the older version I want and it runs in full screen with no problems, just stay out of running Minecraft in a windowed mode when using any older versions of Minecraft.