I
tried to take a screenshot, (print screen button & Alt+print screen) but when pasted into Photoshop it was just a big black rectangle (which is another issue in another thread).
Needless to say, I
think the issue has to do with the color/type of stars generated (in space). I saw the lens flare a couple times since my post & it was always on the same map. The map has a mostly black starry background, but there are a lot of stars that have 'fake' bloom (not real effects, just a hazy glow and vertical & horizontal rays, like crosses, simulating many close stars). The map also has 1 or 2 other suns, one being a dull red star, but one of the suns shows up with a glorious, beautiful lens flare (white-yellow in color). The missions I've played on that map involve an asteroid field (you have to blow up agricultural domes).
As far as ground missions go, I never have a problem seeing lens flares. In fact the other night I was on a ground mission where the sun was low in the sky, like at sunset, and the effect was beautiful.
As far as my bloom settings go, turns out they were turned up all the way :p