It sounds more like the resolution/refresh is set too high for the monitor to handle. The monitor going black and the power LED flashing or changing colour is something screens do if they can't display the output from your PC, in order to avoid damaging the display (The LED flashes just to tell you something's wrong though). If it was the graphics card, the game would be likely to crash, glitch, have an incredibly low framerate, or any combinations of those 3.
When it comes to Windows' resolution, be sure to set your monitor's refresh frequency to the maximum, it'll be easier on your eyes. To do so, go to Display Properties -> Settings -> Advanced -> Monitor. Make sure the box for "Hide modes that this monitor cannot display" is checked. then select the highest option in the "Screen refresh rate" drop-down box.
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