This was posted in another thread, and works:
I too ran into the same problem after updating today: had the same problems in Snow Leopard, they got fixed in Lion (finally!) and returned with 10.7.2. It looks like I managed to fix the problem by copying a file from the Lion install that got removed in 10.7.2 (probably because there are multiple support topic of people whose Philips TV wasn't working at all in Lion, and they had to remove this specific file to get it to work!).
Long story short: if you have handshake problems, try the following (of course, at your own risk):
1. Download <Edited by Host>
2. Unarchive it
3. In the Finder, go to (using cmd-shift-G) the directory /System/Library/Displays/Overrides/
4. Place the entire directory you unarchived in step 2 (DisplayVendorID-410c) in the directory /System/Library/Displays/Overrides/
5. Reboot
It seems to be working for me, so I hope it is the same for you all!