It's the Demo ACE that causes this problem.

I've had it several times after re-installations. It always manifests itself this way, sometimes only certain gauges are blacked out.

The way to fix it is completely uninstall the 767 and ACE including cleaning the registry (manually) then installing the new 767 and ACE as admin

It is very frustrating when it happens. CS need to wipe that faulty ACE from their servers, it still gets downloaded from time to time for some reason.
Otherwise it's pirates trying to get a freebie.

I would also suggest the latest video drivers when graphics problems appear.