MSN Messenger + Media Player = Bugs?

Hey guys,
I decided to upgrade to the latest version of MSN Messenger today (I think it was released today) out of sheer boredom. Now I'm noticing that Windows Media Player is acting funny. When playing videos, if I move the mouse or open a menu or anything, the color "switches" to black and white. Re-opening the file fixes the problem, but the bug or whatever it is happens repeatedly if I do anything other than sit and watch the video. Occasionally, the color will stay but instead I'll get a blinking effect where the video and audio play as normal except the picture is flashing on and off very rapidly.

Anyone have any suggestions of where to look for the problem first? I don't know if I can "downgrade" MSN Messenger to see if that fixes the problem. Thanks for your consideration.

Sam