My iMac was doing the black out screen too. I read through ALL of the posts on this discussion.
Here was my solution:
> Disk Utility Repair. Twice.
> Turned screen brightness down, but not to 50% like other suggested. Just a bit lower than I've had it.
> I did notice that my computer was getting hot. By touch. I have iStat widget. My CPU temperature was reading 52˚C - 58˚C ... that's hot. My computer is well-ventilated and exhausts are clear from obstructions.
>SMC reset. Three Times. Let the iMac cool off for a good 4 hours.
After this. My iMac worked without a "black out" but only for about an hour. Then it happened repeatedly.
I did and Apple Hardware Test. 2 times in "Extended Mode". Recieved two seperate errors. One of those errors I looked up was about a "Fan faiing"
I downloaded and install SMC Fan Control. I set up 3 custom fan speed presets. Watched the temperature closely while I worked normally.
Video work with FCPX. Multiple windows open with Safari, Calendar App, Mail App, some finder windows. I also started to use Photoshop and Illustrator.
The temperature did start going up. I made sure that I balanced the SMC Fan Control to keep the temp under 50˚C.
3 days now. Hard working computer. Backups going, multiple drives connected. Applications and video and processor intensive work.
NOT ONE black out since I did the Apple Hardware Test and intalled SMC Fan Control.
Will post if a change happens. So far, I'm not seeing the need for an Apple Genius Bar visit. *fingers crossed*