Black Screen Issue on ATI cards
For those of you who are having rendering troubles and on ATI cards, you can try this:
Start up the ATI Catalyst Control Center.
Open the Gaming tab.
Click on 3D Application Settings.
In the Catalyst A.I. Box, check Disable Catalyst A.I.
Press Apply.
Run the game and see if the graphics are now rendering correctly.
You can save the Catalyst settings as an application specific option by pressing the Save button at the top of the 3D Application Settings, while << New Application >> is selected, then search for the MajestyHD.exe in the Steam install folder.
Once it is saved, you can turn the Catalyst A.I. Back on, and press Apply, but do not press Save, you don't want to overwrite the MajestyHD application settings. Just to make sure, you should take a look at the Application Profiles section and double check that MajestyHD.exe still says the Catalyst A.I. Is disabled.
The problem is with the Drivers on a few ATI cards. Hopefully ATI will update these drivers at some point.