Which version of Java are you running? Go to LW's menu bar, Help>About LW & it will show both LW & Java version. Tell us what version of Java & LW you're using.
Try changing skins. Go to LW's menu bar, View>Change skins & choose another skin option. Do you still suffer the same problems with the new skin?
Set your graphic card settings back to default &/ set 3D to minimum. As suggested earlier, see
GeoForce 3D setting, or/and this one
The way to fix the Blank screen on startup
Sometimes the problem can be solved by the particular driver version used. Be that updating or downgrading the driver version.