I'm not sure what process you're going through for driver updates, or if you're using something like Driver Sweeper. Also, people have had issues using beta drivers. It may take a clean install of 10.7a. I would certainly uninstall and user Driver Sweeper at the least.
I followed your instruction and no more flickering!! :bowdown
After uninstalling 10.7 and rebooting, I was surprised to see my computer with a desktop spanning accross 3 screens, while in theory there was no ATI driver remaining.. did a disk sweeper, reboot: desktop back in expected 800x600 or so and cloned on 3 desktop: reinstalled 10.7a and bye bye flickering!
:bowdown :bowdown :bowdown :bowdown :bowdown :bowdown :bowdown :bowdown
Will wait for the next driver revision and user feedback see Iif I revert back to my dear 3x1 portrait mode