Problems with emulation of lighting in Zelda MM are almost as old as N64 emulation itself. Many developers (including myself) tried to fix it, but there is no solution, which works 100% correct. Finally olivieryuyu decided to decode it. The task is hard (otherwise it would be already done), but after successful decoding of Star Wars - Rogue Squadron microcode nothing is impossible. olivieryuyu decoded lighting method of Zelda MM. The lighting method is really complex. Not as insanely complex as lighting in Conker's Bad Fur Day, but definitely the second place. I started to implement it. WIP screenshot:
WIP build is available for patrons with early access: https://www.patreon.com/Gliden64
Math behind point lighting can be found in many places. Algorithm of point lighting in Zelda MM is close to one, described in this tutorial. Existing implementations of Zelda MM point lighting are close to the truth, but it has subtle and not obvious nuances, which hardly can be guessed without close examination of ucode's asm code.
To be short: olivieryuyu decoded Zelda MM point lighting code completely. It was a hard piece of work due to lots of math. I implemented it. The sources added to master in October. If you want to test it, download latest WIP build from GitHub.