Up until now, there were a couple of ways to reduce the problem. You will end up getting huge clouds of black or, worse, the screen copying itself over and over as you look around. As I understand it, the problem is that newer versions of DirectX can't figure out what to make of the engine's graphics. The game will load and the menu will be fine, but the levels and the gameplay will have extremely messed up graphical issues.
If you've tried to play Aliens versus Predator Gold Edition in the last ten years or more, you've probably run into a very frustrating problem.