Hello,
While I have not done what you are doing I have had a listbox flicker at times in an application I made if I try to make several item updates at the same time. I do not know if this will work or not for you but, I put in a 'Application.DoEvents()' after each update. This forces the application to wait for the message pumps to empty before continuing. In my experience this has not caused any noticable slowdown for me (a speed rating application clocked a 15-20ms slowdown in response times) and, was able to stop flicker.
Again, I do not know if this will work for you but, I suppose its worth a try?
Phillip