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did you check the card on another pc???
Amd at it again it seems this is the first time I've used the company after a decade of nvidia, it's little niggles like this I've never encountered, I even encountered a massive cursor last night which I'm told is exclusive to amd ha. Yeah hdmi it's connected by, looks all smashed up and cramped but I can make out what stuff says non the less
Is the TV a Panasonic? am sure I read while back think it was Panasonic's dont display the low resolution that BIOS use.
Or is it a Plasma issue, some have issue displaying 540x480
http://forums.overclockers.co.uk/showthread.php?p=24136826
Edit
Maybe look on TV settings for Fit full screen or 1-1