500W is more than sufficient for the GT 240.
"Suddenly things are like invert colors" Does this happen with your onboard GPU? Were you overclocking when the issue occurred? How much did you overclock from stock settings?
Can you run Furmark and do the 720p preset benchmark to stress-test your GPU?
"How do I make sure the processor is not used for graphics?" It depends on the game-some poorly optimized games like Crysis put a full load on both the CPU and the GPU. If your game supports nVidia PhysX you might want to set your graphics card to render PhysX effects, not your CPU.