This first happened to me in BG1, and I fixed it at the time, though I don't remember how now. What I do know is, as things are now in BG2, I can either have the black boxes in my inventory slots, on pictures of items, and on monster "chunk" deaths, or I can lower the graphics to 16 bit and have my mouse lag for like 30 seconds during inventory and save screens. ARGH.

Not certain, but I think it has to do with triple buffering in your graphics card options. I can't remember whether it should be on or off, but just change it from whichever it is now and see if that does anything.

I had this problem when I first installed BG 2. After I ran the configuration program that comes with the game, it went away. I don't know if that will help or not, because I don't remember what I set that might have done it.

Check your color bit depth in configuration menu, and turn off 3d acceleration in same program.

Are you using nvidia?

Yes, 3D acceleration is already off. Will that and 16 bit color do the trick?

Are you using an nvidia card?
If yes:
http://www.shsforums.net/topic/30840-ie-games-and-nvidia-series-8-video-cards/
EDIT: I wouldn't recommend D3Dwindower. Try the patch and his bigg's recommended settings.
EDIT2: Pretty sure the patch is a weidu exectuable, so installation/uninstallation shoudl be a snap with an exceedingly small footprint.
EDIT3: Can't remember if Bigg suggests, but you can try disabling AA in card settings.

I would recommend trying with 3d accel on, if it was already off. Also, I would try 32 bit color depth.

Turning 3D Acceleration on did the trick. Thanks! And yes, I use nivida.