So it really does look like a codec problem.
Can you try to install the following codec package:
Download details: Codecs Installation Package for Windows Media Player 6.4
You could also try un-installing Media Player like you suggested. -In
Add/Remove Programs, Windows Components.
The following is unrelated to the codec, but something else you may want to also try:
- Right click on your desktop and go to
Properties, followed by the
Settings Tab.
- Click on
Advanced, followed by the
GeForce FX 5200 tab.
- Click on
Color Correction.
- From the
Apply color changes to section, select
Overlay.
- From the color profile, select
Advanced Mode
Try to change your overlay settings from the graph above whilst your playing a video.