Blackmagic Intensity Pro Flicker Problem

[P4RL]

I have a correctly installed Blackmagic Intensity Pro with component cables going in from my Xbox 360 and out to a monitor. When I set the Xbox setting to 720p and the Intensity settings to 720p I can see the image clearly and correctly on my monitor but in the Media Express software used to record from the Intensity to my computer the image is constantly flickering even when not recording, I have tried various settings and different recording software but no matter what it flickers. The only way I can get it to not flicker is to set it to 480p NTSC, this is not ideal since I would like to record in 720p or 1080i. Since the image on my Xbox monitor is fine that leads me to believe that all the hardware is functioning properly, I have all the drivers fully updated. I have one HDMI cable and have replaced both the input and output with that but that doesn't fix anything. I am going to try and get my hands on a second HDMI cable and see if having both the input and output as a HDMI cable fixes it but I suspect not. Does anybody have any ideas on how I can get the image to not flicker on 720p pr 1080i?

Here are my some specs just in case you need them:
ASRock M3A UCC - AMD 480X CrossFire
AMD Phenom II X2 555
NVIDIA GeForce GTX 560 Ti

[poisondeathray]

Is it set to 720p50 ?

What is your storage setup? Maybe you're dropping frames = stutter (not really "flicker") ? If you're using regular HDD's you need at least 2 in Raid-0

[P4RL]

I have tried all the frame rates including 50, no luck.

The problem is even when I'm not recording, it is flickering on the preview so I don't think it's anything to do with my storage setup.