AFAICT it seems to be related to Auto Track Zoom.
When I disable this the flickering goes away. I could not figure out why I was having this problem as well. But going to
View (not Views) >
Auto Track Zoom and disabling it...appears to solve the problem. It was becoming quite irritating here but it seems to have some connection to the Auto Track Zoom command.
No guarantee it will help everyone but the work around above might work and is surely worth a try.
The problem is a little less visible when tracks are in folders but it can still be seen (here at least if Auto Track Zoom is enabled).