Nothing to do with the flickering video output, but I've noticed that your source video uses 48k audio, which is quite standard, yet your Sequence setting is using 32k audio. Right-click on a clip in your Project Bin and select "New Sequence from Clip" and this will create a Sequence to properly match the video source clip.
Already edited? That's ok - make the New Sequence, then in the old Sequence, do Select All, Copy, then move to New Sequence and PASTE. Voila!
Jeff