The form is redrawn when any portion of the form object is required to be drawn. This could be from another window moving over the form or a focus/minimize/maximize. It would depend on the application. You can add a simple counter, sort of like the example I gave, to see how many times it's being fired in a given situation. This value may be different in Remote Desktop environments, I have not tested that.
ddanbe, it could be that the window is being unfocused and refocused by the windows environment. Each one causes a Paint event to fire. Perhaps it quickly does it and you see those results. In my current test environment, I consistently see three events at startup, and then from there it varies depending what I do.