HD Monitoring Issue

Here are my specs:
Mac Pro Mid 2010, OS 10.7.5
Decklink Studio 2
Avid Media Composer 6.5.2, 23.98 1080p Native project
Sharp Aquos 32" monitor (LC-32D62U)

Component Signal, I'm getting pix but only at 480i
HDMI Signal, I'm getting audio to my monitor but get an error "An incompatible video signal has been received. Please check output device settings."
Analog audio out works perfectly.

Does anyone have any ideas how I can get HD video to work?

Thanks.