What does the card really have? It looks like it has 209310 which is 209K or probably the 252k VRAM.
THe next line is wrong should be .209 mb
Background flickering with Win8 is a know problem with some video cards.
It has 1 GB of VRAM
Yes this is all related to driver issues with the ATI 12.10 drop and impacts Ps. By switching to Basic mode, color management is handled on the CPU, and you might see some performance impact with some OpenGL rendering (3D on-screen interaction, I think requires the Normal or Advanced setting).