This doesn't make any sense. It only happens inside of the preview monitor in Premiere Pro CS6. When my footage isn't rendered yet, it plays back just fine, but when I go to render everything in the time line, it makes everything flipped vertically and black/white. When I export a render to a file, it's completely fine. This only happens in Premiere and not AE or Prelude.
I'm using a PC, Windows 7 64-bit. My computer has quad-core i7 running at 3.8ghz, 16GB of RAM, and a 1GB GPU. I just upgraded from CS4, where I never had any of these issues in Premiere. Thanks!
There have been other messages (not exactly like yours) indicating that CS6 is enough different that you will need to update your graphics card driver
Do NOT let Windows update do this... go directly to the nVidia or ATI site and find the most recent driver for your (un-named) 1Gig GPU
What codec do you have set for the sequence previews?