The On-screen Display 3D is a new feature to the On-Sreen Display Server v3.7.0 which is included with the new v1.9.3 Precision.  
 
Try disabling the On-Screen Display 3D and see if that makes any difference.
 
I have used the Steam in-game overlay in DiRT 2 and BFBC2 and neither one is having issues with the new version of Precision.  But I also have the On-Screen Display 3D disabled.
 
Otherwise, there is this in the changelog:
 

Improved race condition protection system for the systems running multiple OSD applications simultaneously (e.g. OSD server, FRAPS and STEAM In-Game Chat)

 
Maybe something was changed that doesn't cause it to work properly with certain games.  Who knows.  I haven't had any OSD issues with my Steam games yet though.
 

Framerate monitoring, On-Screen Display, screen capture and automatic profiles management functionality can be incompatible with some third-party On-Screen Display software (e.g. XFire or Steam In-Game Chat). The limitation is not specific to our product, many third-party products are designed to be the only On-Screen Display products in the system and to block their own functionality when any other On-Screen Display software is running.

 
If you haven't already tried, try again with Stealth Mode turned on in the On-Screen Display Server.  And if you are using the OSD with Stealth Mode turned on, try it again with Stealth Mode turned off.
 
Sorry, I can't be of much help.  I am just encouraging you to test out the functions a bit more.

I'm having the exact same problem with EVGA Precision v1.9.3 preventing the Steam Shift+Tab Overlay from working and (equally or more importantly) the bug also prevents Steam from displaying your friends game invites or text chats while you're in a game.  If I exit EVGA Precision (even during a game by Alt-Tabbing out), and go back into Steam games, then then the in-game Shift+Tab Overlay resumes working fine.

This v1.9.3 bug is pretty serious (IMHO) and needs to be addressed.  It's happening with every one of my Steam games.

funmike

I'm having the exact same problem with EVGA Precision v1.9.3 preventing the Steam Shift+Tab Overlay from working and (equally or more importantly) the bug also prevents Steam from displaying your friends game invites or text chats while you're in a game.  If I exit EVGA Precision (even during a game by Alt-Tabbing out), and go back into Steam games, then then the in-game Shift+Tab Overlay resumes working fine.

This v1.9.3 bug is pretty serious (IMHO) and needs to be addressed.  It's happening with every one of my Steam games.

This "pretty serious bug" is being reported with ANY new Precision version. But this is STEAM onw limitation and your reading skills bug, sorry. Peek into readme, read forums and enable stealth mode to prevent STEAM from seeing one more OSD software running in the system. I'd also be really happy to resolve this "bug" by removing OSD functionality from Precision at all :(

You can manually add:
"steamoverlay.exe" (or something of that kind)

And set to low or medium detection, but leave stealth off.
(I need to double check later at home - but I got BC2 + steam overlay to work together very nicely)

Sigh ,my in game OSD works perfect and shows messages and Shift tab works just right.And to top it off i only read half of the release  notes most times (sorry Unwinder )

End users need to always read Release notes and know how to set it up for in game use .Every program has its limits and stipulations (im sure there is a better word to be used here but o well lol) to work properly .

It's not a bug when the user cant take the time to read and understand how what he/she is using works.

Unwinder

funmike

I'm having the exact same problem with EVGA Precision v1.9.3 preventing the Steam Shift+Tab Overlay from working and (equally or more importantly) the bug also prevents Steam from displaying your friends game invites or text chats while you're in a game.  If I exit EVGA Precision (even during a game by Alt-Tabbing out), and go back into Steam games, then then the in-game Shift+Tab Overlay resumes working fine.

This v1.9.3 bug is pretty serious (IMHO) and needs to be addressed.  It's happening with every one of my Steam games.

This "pretty serious bug" is being reported with ANY new Precision version. But this is STEAM onw limitation and your reading skills bug, sorry. Peek into readme, read forums and enable stealth mode to prevent STEAM from seeing one more OSD software running in the system. I'd also be really happy to resolve this "bug" by removing OSD functionality from Precision at all :(

I will first state that I had no problems with the Steam overlay functionality when running EVGA Precision v1.9.1.  The overlay problem only showed up after a recent OS reinstall, along with a fresh install of  EVGA Precision v1.9.3.  And as I wrote, the problem goes away if I exit EVGA Precision.  So the logical conclusion is that the problem is being caused by the new EVGA Precision.  Others have had the exact same experience.  That your response is to blame and insult me over the problem occurring is beyond unprofessional.

I came here to report a legitimate problem, and look for help (in the form of specific steps to make the problem go away.)  My post was written with only good intentions.  I did not come here to be insulted by an egotistical software developer who acts like a child having a hissy fit and then takes all his toys home so none of the other kids can play with them. 

thanks for the post trepoo, helped me out a bunch! I read some posts from a steam forum (from 2005 or 6) that this has been an issue with other programs such as fraps, rivatuner, an ati tool. Was nice to know I could change a few settings an not close anything. Thanks all.

EVGA_Knud
Here are my settings (had to change some global settings, in order to make my TF2 work again) 

 
The key is enabled stealth mode in the global profile, profile for GameOverlayUI.exe can be safely removed as it doesn't do anything (because OSD is rendered in context of each game's .EXE). BTW, TF2 compatibility issue will be resolved in 1.9.4, I've just sent new build to Jacob.

The Steam overlay problem seems fixed (for me) by turning On Stealth mode and setting Application detection level to Low (under Global in the "RivaTuner Statistics Server technology" window).  FWIW, I do not use the on-screen display features of EVGA Precision and have Start with Windows OFF and Show On-Screen Display OFF.  I'm wondering if it's off, then how is it still running and hooking into or interfering with the Steam overlay.  Why isn't off OFF?

Also... I'm glad to see that someone had the good sense to delete the message responding to my previous post.