Looks like you are on Shader 3.0, so that should be okay. Integrated graphics are always a little tricky to get working with games, and it can vary game to game about what works and what doesn't. Have you run anything like 3dMark vantage to see if you run into any problems with it? It might help you flush out if this is limited to Elemental or a general card problem.
Look for your debug.err file. It is located in My Documents\My Games\Elemental. It may have some indications about what is going on. It would be helpful to post it to this topic. or at least link to it (note this file gets overwritten everytime you play, so post it right after seeing the problem so that it may still have some helpful information in it.)
Follow this post by Cari Elf (Stardock) https://forums.elementalgame.com/391297 about getting help. You could try to get them on irc and see if they can help you. They are pretty responsive when you contact them that way.