As previously reported, changing the color depth with AIGLX enabled does not alleviate the problem.
However... I just installed KDE 4.4 beta 2 and can no longer reproduce this issue. At least, KDE just says that "compositing is not supported on your system" and does not try to enable compositing at all, which was the case before anyway. I'm not sure what would happen on a system that does support compositing. I know many things were changed between KDE versions, but if there's any other information I could provide, I'd be happy to do so.
As previously reported, changing the color depth with AIGLX enabled does not alleviate the problem.
However... I just installed KDE 4.4 beta 2 and can no longer reproduce this issue. At least, KDE just says that "compositing is not supported on your system" and does not try to enable compositing at all, which was the case before anyway. I'm not sure what would happen on a system that does support compositing. I know many things were changed between KDE versions, but if there's any other information I could provide, I'd be happy to do so.