I don't know if this is my monitor acting up or my desktop. In the last couple weeks the screen has regularly been switching and fading into different colours where the white generally is normally.

To determine if the graphics card is faulty (I doubt it) connect another monitor to this graphics card and check the video image.

I would contact Viewsonic because it sounds like there is a problem(defect) with your monitor.
http://www.viewsonic.com/support/warranties/

This is 2004 model, it may not be worth putting money and time into repairing a 15" monitor. But you can at least look inside for any damaged, burnt components, lose connections, etc. otherwise to do a component level repair at the shop will not be worth it.
See eample of what usually goes wrong with LCD monitors: http://s807.photobucket.com/home/budm/allalbums

satservice, What happens AFTER 15 min of FLASHING?? What did unit do or act like 3-4 weeks ago? Is the screen both BLACK and BLANK? or is screen just black and you can SEE win-desktop if you shine a bright flashlight 1 inch from screen at differnt angles? Can you use your Samsung warranty? Will monitor do same when connected to different KNOWN GOOD prebooted to desktop PC? Are you refering to the "power ON" indicator light on front BEZEL as the FLASHING thing? Need more info, but I suspect "shutdown of units "switch-mode-power-supply" due to detection of FAULT CONDITION having been detected with other circuit or with itself. Read some of my other responses in my fixya profile that deal with BLACK SCREEN repair. If this response useful, rate on fixya. 12fixlouie

move the mouse u will get everything back plus right click on ur desktop go to properties and go to screen saver and change the mins so it don't switch after a couple of mins

Sounds like there maybe bad caps on the power board in the LCD. Try a different monitor on your computer and if the known working monitor comes on with the computer and behaves properly then you know its a problem with your original monitor. If the known working monitor acts strange as well then you know its a problem with the video card. Let me know what happens.

this sounds like a transistor issue concerning the ccfl lamps the power transistors are deteriorating and they will eventually go bad you can have them replaced and that should fix the issue. otherwise I would say have the capacitors that feed the ccfl's may be getting old and need replacement as well, its not something the average customer will want to do but if you have a service center that does electronic repair then that would be bst.
Hope this helps

normally, this indicates that the color settings in Display properties are set to a lower than normal setting

It should be 32 bit true color

I bought Same Monitor Dec. '06 and Jus last week It faded to black and then now doesn't power on. my protection plan sent me a new one that powered on for like 20 secs. So now I have another one coming. I also knows its not my PC cuz I'm using a monitor right now. I think Proview and Circuit City Sucks

Sounds as though you have a faulty monitor. Give Acer a call and see if they will change it. They usually offer a 3 year warranty with their screens.