The last time I saw something like this it was my graphics card overheating due to the fan stopping on the card itself. However, this happens when I startup elemental around 60 degrees C. I thought maybe my graphics card was dying so I play tested about 3 other games and they all worked just fine and kept at a temperature around ~70-75 C. I've cleaned out the machines with air and made sure dust was not creating the problem. I'm at a loss on this one.
So here is what elemental looks like now when I startup a game. I've tried disabling graphic effects without any success. I was able to play it without problem pre Beta 3B.
Anyway, here are my computer specs: http://pastebin.com/DEyFCnX7