There is a fix for the "cannot get brake to work" problem in the official FAQ, with screenshots and all. It is very useful and can be found at the official site in the pop-up window, or here at his site.
The flashing menus happens to most people that select a wheel, when something else was selected before as the controller. It happens because the "use joystick in menus" option doesn't autoupdate. Go through the workshop to the "menu setup" (where language is selected) and the option updates itself. The problem does not reappear after that.
It's only after we've lost everything, that we are free to do anything.