I had this problem, but did not show the same warning, but I am using W7 x64 Ultimate though.
So I don't know if it will show this kind of warning.
But it disabled aero, the transparency disappeared, I had to reboot to get it back to work properly.
And if I oc the vga thru CCC, the screens starts to flick if I open applications, even if it is GPU-Z. Then I tried change BIOS settings, PSU, and no good result.
I think the problem is either the driver or the CCC, or both like other had said here.
The solution I found was when I installed MSI Afterburner, OCed thru it, no flicker problems, no driver reset until now.
So that is what makes me think it is something related to Catalyst driver or CCC.
I think I will try the suggestion of not installing the CCC.
BTW, when using the default clocks no problems at all, but if I OC 1 Mhz, it starts this behavior. I am using Cat. 9.10, have not tried the 9.11 beta. And the last driver that did happen the samething was 9.8 hotfix.