fwiw, while I haven't researched the issue much, my blinking DP connected monitor appears to be linked to Stand-by Mode which would be consistent with the comments made earlier by the ATI rep.
When coming out of Stand-By, my DP connected monitor blinks or looses display as others have experienced. In addition, the Windows Explorer process appears to hang (Start menu has an hourglass). Disconnecting and reconnecting the USB on the DP>DVI adapter, or unplugging and reconnecting the DVI cable from the monitor, appears to resolve the display issue, however, Windows Explorer does not recover.
Upon hitting reset (cannot shutdown), Windows 7 once again 'resumes' and everything is back to 100%.
More info on this (maybe) :)
Turns out my second PCIe/x16 slot was a x4 if in dual-mode. I've replaced the motherboard with an Asus P7P55D-E which runs in x8 if in dual-mode.
CF and EF enabled, 5760x1080, Win7x64, Accell Active DP>DVI
No more Windows Explorer lockup coming back from Standby and no more flicker (yet).
Also, prior, I basically had to disable CF for obvious reasons. I was getting 31 fraps in ARMA2 with it enabled and 47 without. Now, with CF enabled, I am at 55 fraps in ARMA2 (all medium, AA off, PP high, 3D 5760x1080)