Running the game in Windows 2000 compatibility mode made a difference for me - the text in the menus is still invisible, but the in-game graphics seem ok and the mouse cursor does not jump around the screen anymore. Unfortunately, this mode is no longer directly accessible in the Windows 8 ui; thus, you will have to use Microsoft's Application Compatibility Toolkit. Toying with the more nuanced compatibility fixes offered by this app might be worthwhile, too.
Could you please post the exact compatibility settings that fixed the game for you? I tried MS Application Compatibility Toolkit v5.6, but Windows 2000 compatibility mode doesn't work for me, no matter which Service Pack version I choose.
Please note, however, that this did not make the game work perfectly - it just fixed the font issues during the game and the problems I had with the mouse cursor... Any suggestions on how to tweak this further are appreciated.