* This is caused by graphics cards that don't support the OGL2 plugin's new features (render to texture, pixel shaders). In this case, use the regular OpenGL plugin, or depending on how bad your graphics card is, use Peops Software GPU.
* You can work around this by setting Render Mode to 1. Keep in mind that with your slower card you won't be able to run all (or any) of OGL2's fancy features like high internal resolution, screen filters, shaders, etc. Try turning down the resolution if you're having slowdown issues.