If I set the text-indent to anything larger than -1801px, remove the positioning or indentation, the flickering stops. The flickering is not visible in Safari on Win7, but it is visible on Mac Safari and Mac Webkit nightly r66574.
text-indent: with some large negative value should always be combined with overflow: hidden. The flickering is expected, since WebKit has to make huge layers because of the text-indent.
Overflow: hidden solved the problem. I'm just going to add that Safari 5.0 (7533.16) on Win7 as well as Chrome on any platform did not flicker.