Note that I had to take this picture with my phone, both Fraps and the built-in screenshot function result in the image displaying the normal Minecraft screen.
That's what happens to my screen when I Full Screen (F11), then return to Windowed mode (F11 again), and then full screen once again (F11 again).
Sometimes I can toggle fullscreen a few more times and it'll return to normal, but usually it will require a game restart.
I'm not sure what's causing this, but I'm hoping someone else has had a similar situation and is willing to share a resolution.
GPU - AMD Radeon HD 6970 2GB
CPU - Intel Core i7 2600k @ 4.5GHz
RAM - 16GB DDR3-1600MHz
OS - Windows 7 x64
GPU Drivers - 12.2 Preview Drivers
java version "1.7.0_02"
Java(TM) SE Runtime Environment (build 1.7.0_02-b13)
Java HotSpot(TM) 64-Bit Server VM (build 22.0-b10, mixed mode)
If you need any more information do let me know, and I thank you guys in advance for any support you may give.
For reference I had no problems with beta 1.9 or previous, and I have not played any 1.0.
I've tried 1.1 and 12w04a, the issue is present on both.
I also tried updating LWJGL as described here which did not solve the issue.
EDIT: I just realized that without Fraps running this issue does not occur. It appears the Fraps overlay is the cause of this issue. This makes the need for a solution less urgent, but if anyone has any suggestions I would highly appreciate it.