ATI's latest Catalyst driver sets (4.5-4.7) have caused some of the textures used in the buildings to flash.
While this does make for a nice "Disco" effect for some of the Retro players, most find it annoying. How annoying really depends on how large the particular flashing building is. In some of the zones with very big skyscrapers in can be close to unbearable for me.

I finally broke down and waded into the Community Forums to look for a solution. Luckily, like the rest of this game, the forum for CoH is kinder-and-gentler than most game forums.

After only about an hour I had found and implemented a simple and effective fix for this bug and had a good feeling that ATI will probably fix it themselves in a month or two.

Here is the fix I used:
Replace the OpenGL driver with an older OpenGL driver that works.

I seems that you can swap out the OpenGL driver from the standard Catalyst driver set without messing up any functionality.

So I installed the Catalyst 4.7 driver set, download the 4.2 driver set (the last one, according the forum, that still works right), extracted the OpenGL driver (atioglxx.dll), and plopped that puppy in the /Windows/System32/ directory and fired up the game.

It worked great and I didn't even have to reboot!