My Razr Maxx screen has been randomly flickering blue horizontal lines since I got it. It seems very random and it will do it in every app. I'm not able to find a way to cause it to flicker blue and I'm not able to stop it from happing. The phone has also started to reboot itself randomly.
Has the device ever been dropped? That sounds like a hardware issue. Try running the phone in safe mode for a day or two to see if problem continues. If so yes, then you could exchange it if you are within the 14 day return policy period or request a warranty replacement if you are past the 14 days.
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