I am just now experiencing this issue. Mac mini 2011 quad core 2.0Ghz i7, which I have a custom version of OSX 10.6.8 running stably for the past 3-4 years with no problem. 8GB RAM (2x4GB 1333 from Crucial). No problems.
This week I installed 16GB (2x8GB) of Crucial DDR3L-1600 1.35V CL11, and while all is stable under no load (basic browser/Word use etc), as soon as I load up a multicore process and push the processor hard, the external Thunderbolt output display intermittently cuts out. This dispay is a Dell 2711 running directly off the Thunderbolt port. I also have a 24 inch display running at the same time off the HDMI port. This display runs fine and does not cut out.
I can solve the display glitch in 3 ways:
1. Unplug the HDMI display, so only the Thunderbolt is being driven.
2. Unplug the Thunderbolt display so only the HDMI is being driven.
3. Revert back to 12 GB RAM (1x4GB, and 1x8GB new RAM), no glitch on either display even though both are being driven.
Given that I am seeing this behaviour on a non-Apple Thunderbolt display, and that it is highly reproducibly caused by the addition of 16Gb RAM and high processor load, I suspect that there may be an unrelated issue afflicting some Apple Thunderbolt displays,but that the route cause is something to do with the shared VRAM on the i7 Chip when two displays are active and a potential incompatibility with either 16GB RAM, or more likely 16Gb of CL11 RAM.
I hope this information is at least useful to anyone still afflicted by the problem.