Hey longice,
I think it's my Indivision you bought. IIRC, it's flashed with the latest firmware, however I believe it is set for 50Hz which is how I ran it for smooth scrolling. Many modern monitors won't display that correctly.
You might have to use another output, fire up the config tool and setup the Indivision to display PAL at 60Hz (easy to figure out with the tool up and running).