Collector9999: Which exact version of windows is this? Win7 SP0 x86? Could you create an extra label and set the color on it (and maybe transparent background) and see what happens?
Afrow: Is it possible that you are doing a black FillRect or not restoring a HDC or something like that? The problem could be in the link control also of course, a dev needs to reproduce the issue before we can board the blame train