This could be one of many possibilities--registry entries, custom menu/toolbar files, addins or xlstart items may be causing the problem. Try Excel in safe mode and see if the problem goes away. To run Excel in safe mode, click on Start | Run and type 'excel /s' (without the quotes) and press OK. If it works, Excel has minor configuration problems.
It also could be a bad video card or printer driver (yes, no kidding).
Since you get two free support calls with the Office suite, I'd call Microsoft Support at 425-635-7056 for assistance.
