sounds seriously like that.
Let me guess: You are using a gForce card or an ATI card?
If so do a search here in the forum, there are several post regarding this issue.
First I would suggest to update Your graphics driver abd hope that helps.
If not we must see further
I'd say definitely probably. Here's my favorite graphics discombobulation (frameable as "art"):
Try to load the latest drivers for your graphics card.
Kandinski would love that graphics card failure.
Looks like Escher and Pollock had a love child or something.
Bruce, with your kind permission, may I use the SE graffiti art as my desktop wallpaper, like this:
Ha! LOL. I actually did that for a while. Until I couldn't stand it. Enjoy!