I got a Nook Color for Christmas and also noticed the flicker you describe too. I went to Barnes and Noble and there were 2 demos setup; one flickered and the other didn't. I tried to exchange mine for another, but the first two workers I showed mine to didn't see the flicker under their fluorescent lighting. So, I looked like a nut. A 3rd worker got involved and he believed me. He explained the phenomenon as a refresh rate issue that was normal. So, now I have a choice to make; try to exchange it at another store or live with it... What to do? What to do?
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