The flashing graphics on the pet window are related to the more visible hotbar queue. I haven't had the time to find out if I can use different graphics for the hotbars and for the pet window, but it's one my list.
I'll have to check what happened to the inventory. It was touched both by 2.7.1 and 2.8. In 2.7.1 I changed the background colors to be more visible. They are user adjustable however (check the change notes). The background image, on the other hand, is part of the same file I touched for the hotkeys. What you are seeing may be related.
And on the video settings, I actually have no idea, I just copied the presets settings from the InfoCenter. The easy way to find out appears to be to change the value in game to one settings, look at your recent.ini, then change it to something else and see what change in the recent.ini.
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