This problem has resurfaced on a Win7-64bit pc with an Nvidia Quadro 4000 video card, using Nvidia driver v320.00, running MicroStation ss3 v8.11.9.357. Specifically, the display may freeze, then black-out, then recover with an error message, as previously reported. For us, this error was repeatable, and occured when zooming in and out while in the middle of the place dimension command.
The workaround reported in http://communities.bentley.com/products/microstation/w/microstation__wiki/4172.aspx does seem to cure the blackout problem.
This problem was previously reported, and was supposedly fixed with Nvidia driver version 307.32 and/or 307.45, depending on the version of video card, according to bentley.
I will download and install that version of driver to see if it cures the problem as previously reported.