Locks up on startup

[FrontlinerDelta]

So when I start it up, it locks on a black a screen and I have to alt-tab or ctrl-alt-del out and task manager lists it as not responding.

Running in 1366x768 on a 2.4 Quad and 1GB 240m with Win7 64 bit.

[Sh0ri111]

I also get the same problem, only thing is I need to force shutdown mah pc with notepad open to not really shutdown the pc and close teh game. Becuase the BLACK Screen flashes in a red mangenta way every 1 ♥♥♥♥ing second.
First time I loaded it I could play but couldnt see any mobs, and had some graphical glitches like:

http://steamcommunity.com/id/mars111/screenshot/541763649834545369?tab=public
http://steamcommunity.com/id/mars111/screenshot/541763649834547306/?tab=public

I am using ATI radeon 5850 1GB, Win 7 64 bits, 8GB Ram etc.