I don't see this problem on my system. You're running an older NVIDIA driver, can you update your drivers and see if this still happens?
We'll need more follow-up to try and narrow down a repro, closing until we can get more info.
Nothing extracted yet.
As you can see, most of AYIM textures are replaced by Steam Overlay contents after using it to reply a message...
System Specs: https://gist.github.com/4366424#file-sysspecs
I'll try running from the console and see if there's an error information.
And here is what the console says about it: https://gist.github.com/4413605
(Is there a way to also show AYIM log info in the console? It might be useful as well)