You should get an aftermarket heatsink. Tell me what kindof graphics card (for example, agp nvidia 6800), and i will show you some good choices.
Those red/green colors you see are called artifacts. They are glitches from the graphics card that occur when it is overheated too much. That is also the same reason your card is so loud. There are many that are quiet and will fix the overheating, just let me know what kind you have.
nizzy1115
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