The issue (flashes" colored screens) you're facing could be related to drivers and could be resolved by updating the display drivers. Without the correct driver, the hardware or device that you want to use won't work properly.
Also refer to:
http://windows.microsoft.com/en-us/windows7/update-a-driver-for-hardware-that-isnt-working-properly
Let's try to boot the computer in low resolution mode and check the issue status.
Low resolution starts Windows using your current video driver and using low resolution and refresh rate settings. You can use this mode to reset your display settings.
Refer the section:
Enable low-resolution video (640×480)
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