Reinstalled Oblivion. ( Qarl is the only major mod at the moment)

I have uninstalled all the mods apart from Qarl trying to fix this. When ever i take damage this happens.

http://www.youtube.com/watch?v=s0eJm13Y6PM&feature=player_embedded

The game runs fine with 60 fps. And the
Rig:

Gtx 460 1 GB

RAM: 4 GB

os: Vista 64 bit

Intel Core 2 Quad Q8300

2.50GHz

Game ran fine last time it was installed. And will be intall the bigger ones later ( OOO better cities etc) :nope: