Funny black squares w/ Pete's OGL

I just started getting these weird black squares on background textures. I didn't change any settings or anything - I just upgraded from 1.52 to 1.53, and all of a sudden this starts happening. Switching back to 1.52 doesn't do anything. I've tried messing around with almost all the settings, to no avail.The weird thing, tho, is that enabling "FPS Display on Startup" fixes the problem... Any suggestions?

Plugin: Pete's OpenGL Driver 1.1.53
Author: Pete Bernert
Card vendor: NVIDIA Corporation
GFX card: GeForce2 MX/PCI

Resolution/Color:
- 640x480 Fullscreen - Desktop changing [32 Bit]
- Keep psx aspect ratio: off

Textures:
- R8G8A8A8
- Filtering: 0
- Caching: 2

Framerate:
- FPS limitation: on
- Frame skipping: off
- FPS limit: 60

Compatibility:
- Offscreen drawing: 3
- Framebuffer texture: 2
- Alpha multipass: on
- Mask bit: on
- Advanced blending: on

Misc:
- Scanlines: off
- Line mode: off
- Unfiltered FB: off
- Dithering: off
- Full vram: off
- Game fixes: on [00000200]