Graphic Issues - no meters, no drag and drop, mixer redraw

I have many issues in cubase 7.0.3 on a mac pro running OS X 10.8.3.

Dragging events makes them disappear until they are dropped.
Meters aren’t working.
Opening Routing / Inserts / Sends / EQ panels does not show until mixer window is reloaded (F3 twice).
Obviously this makes working with a DAW impossible.

This is of course a fully paid, legal version of cubase.

I have recorded a screen capture of my issues here, as it is best demonstrated in a video.

http://youtu.be/8cvWuLpS2sg

I have tried re-installing from the 7.0.2 installer and upgrading. This happens every time, on new and old projects alike.
I’m pretty sure that these issues did not exist in 7.0.0, and started only after upgrading to 7.0.1.

Any help would be greatly appreciated.