Flickering "Box" with weird texture in center

Is this a known issue?

I have a nVidia 7950 GX2, latest drivers, SP, etc… for Win XP. For some odd reason on any OpenGL based application I fire up, I get a weird box with a blurry texture either flickering in the middle of the screen, or moving when I move my mouse pointer. Is there any way to work around this problem?

Impacts:

Half-Life 1
GLQuake
Quake 2
Second Life
Some screen savers based on Open GL

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