Started to google this problem to locate a solution. After searching and reading for few hours here is the solution ;)
Original Mono thread is here. After reading this I started to understand that this is not a Mono bug but problem with my Intel Xorg driver. I downloaded and installed it as described here (almost)
download needed driver (in my case 2.9.1)Cool, everything went well till now ... but ... oh no one more BUT :D. Well no that big any way.
$ ./configure --prefix=/usr
if everything is fine execute the next 2 lines but you will need some extra libraries to install before configure finishes whit no errors.
$ make
$ sudo make install
reboot PC or restart GDM service
Next what happened to me is this: I can see only part of the texts. Solutions can be found in the link I posted ;). Change your Appearance -> Fonts settings and you are done. Problem solved!