I'm new to all of this but have a couple suggestions, based on my brief experience with the Vision Plus.
1) I believe the flashing has to do with the camera using a shutter speed that is not compatible with the frame rate. For instance I've had by far the most flicker/flashing in 720p60 mode on a bright day. Since we can't control the shutter, try a different frame rate and see what happens.
2) I've been fixing the fisheye using Magic Bullet Looks, a plugin for various editing packages (Final Cut, Premiere, etc). Works great.
3) I was horrified when I saw the compression artifacts on YouTube videos but realized I have no problems when flying the way I would choose to anyway (slowly and gracefully, the way I'm used to seeing aerial footage from helicopters and planes). For fast action, I was more satisfied with 720p60.
4) Definitely set white balance in the app prior to flying.
5) I admit that I'm disappointed with the picture quality in general, but that's because I'm used to shooting on $6k cameras. No one else that I've shown the footage has any problem with it, because it is so graceful and shake-free. Therefore the camera is a loser if you're making a movie, but awesome for consumer and industrial applications. Still the best price/feature set so far in 2014.