I have tested the 2002122100 LiveCD, but I don't see the isolinux boot graphic (http://cvs.gentoo.org/~drobbins/livecd.png). The screen is completely blue, I have an AthlonXP with a NVidia GeForce TI4-4400. If more testing or specs are required please let me know.
I noticed this too on an ECS K75SA with a Radeon 7500 in it. Should be able to do 640x480x16 colors just fine, so let's consider this an isolinux issue.
After talking to the author of syslinux, we have determined that in these problematic cases, the VGA graphics mode is not being initialized by syslinux. We will need to look at this code ourselves, as it is not a priority for the syslinux developers. Likely it is not correctly detecting if there is a VGA card in the system.
fixed on latest livecds