Okay, I got this working, nobody else needs to suffer!
Right, bag the nvidia beta drivers from here:
Now, I am told that Xorg 7.1 autoloads Modules, so you don't need an Xorg Module section anymore. So, comment it out (the RPMs will put it in for you annoyingly).
Make it read as follows to comment it out:
# Load "glx"
And, add the following line to the section marked "Device":
Option "AddARGBGLXVisuals" "True"
Now, every time you bloody reboot, the livna RPM has installed a tool that will put the damn Module section back in. So, do the following:
And I added "#" at the start of these lines to comment them out, it seems to work:
# Create an empty modules section
#if xconfig.modules == None:
#xconfig.modules = xf86config.XF86ConfModule()
And these lines as well:
Now, reboot and choose "System > Preferences > Desktop Effects" and turn the wobbley ****e on! W00t!