Skyrim Graphics Problems Options

[Acadian]

I've got some graphic weirdness going one in my lightly modded game. I'm posting a new thread for this instead of in the mods section because I'm not sure if it is a mod problem or a computer/graphics card problem.

Sometimes, when outdoors, I get sort of a neon starburst effect that seems localized to one (random) area. Like this. If I exit and reload, the problem goes away. If I turn away from the problem and move on, I can leave it behind.

I'm not sure how to proceed. Here is info that may help troubleshoot:

GPU: Nividia GeForce GTX 460 with latest updated driver. It is not a new card and I have had a couple of minor problems with it in Oblivion; that is why my gut tells me the problem may be here.

Mod Stuff (NMM install):

ESM’s:
Skyrim
Update (not positive what this is)
Dawnguard
Dragonborn
Hearthfires
AzarHair (Ponytail Hairstyles)

ESP’s:
HiRezTexPacks 1,2,3 (DLC)
Viadani’s Bag of Holding
Portable Campsite
The Eyes of Beauty
Triss Armor
Summoning Jewelry (added after problem started)
Oblivious Horses (added after problem started)

No ESP or ESM:
CBBE (body mod)

I appreciate any ideas on how to isolate and fix the problem.

[SubRosa]

I have FRAPs start with Windows every time and leave it running. Otherwise I forget to turn it on, and wind up with no screenshots when I really wanted them. I go with the .bmp output as well. I think it puts a lot of compression on the .jpgs it saves natively. I would rather convert them myself with the lowest compression possible.

[ghastley]

I suspect bmp is the fastest format to create, too. Useful if you want to spam the button to try and catch a fleeting moment.