Targa is actually the name / pronunciation of .tga files. I knew they were graphics files, but not the pronunciation, until I just searched Google for "Load Targa". Now that I know that, I have a good idea of your problem.
Check your '..\Divine Divinity\Run\static' folder. This folder contains the background of the main menu, as well as the start/finish game loading indicator. Try opening each of the .tga files in a graphics program, one or more are likely corrupt. Check the sizes, as well; the values from my files are below:
back.tga 1,440,018 bytes
backe.tga 2,359,314 bytes
backs.tga 921,618 bytes
load_screen_a.tga 274,529 bytes
load_screen_b.tga 274,529 bytes
If any of these are corrupt, you can replace them from the files on the Play Disk, under '..\disc3\static'. If they are all fine, there may be a problem with one of the file involved in displaying the graphics.
