I decided to improve upon what was there, and now the game will update much smoother, runs at around 150-300 fps uncapped, and also is a 400×300 grid with 2×2 pixels for a nicer appearance. Also, thanks to kappa from lwjgl for help with setting up the Renderer for displaying the graphics faster.

Anyways, here’s the updated source for the improved performance version of the program.
EDIT: Improved the mouse so that way it interpolates drags of the mouse for smooth lines. Changes made to the source code link above.