I should note that the flickering effect is really visible on certain colors such as pink, and moreso on the left side of the monitor than the right. It's pretty minor and shouldn't be seen while playing a game unless you are running one locked at 30 fps or have extremely underpowered hardware.
G-Sync will not allow the monitor's refresh rate to drop below 30 Hz as anything slower than that will apparently have an adverse affect on image quality. If your framerate drops to 30 or lower which is very common on loading screens, G-Sync will force the monitor to refresh after 1/30 of a second has passed to prevent this.
Now where the flickering comes in: Say the game is running at 24 fps. G-Sync will force a refresh after 1/30s, then 1/120s later the next frame is ready and displayed immediately. This bouncing back and forth between 30 Hz and 120 Hz causes the inversion pattern to be visible and to visibly flicker.
