"this" refers to the Form itself. That means, if something on the Form isn't valid in terms of "optic", the Form needs to redraw itself plus it's contents (at least, I think it works this way). So some child controls get the message "Hey, redraw yourself, please!", which is why the Label seems to redraw itself and overlay the renderView.
In my solution, only the Label itself is redrawn, if it needs to be. I came across this idea, when I thought about other controls like buttons etc. If I would have done a timer with the "this->Paint += ...", everything would be redrawn everytime, which... well, THAT would be massive flickering.
It has been a long time since I actually programmed with the native WinAPI, where this whole Invalidate, Redraw thing was clear to me, so I might be totally wrong. But this approach seems to work as intented.
With double buffering, I think it is more a problem of the Windows Form itself. The DB of SFML works fine, but the "Label" flickers. I had this problem in my native WinAPI days, too. AFAIK the problem is, that the content of the Label (the renderView) is first cleared and filled with the control's background color, when the Paint Event is fired. Then the content is drawn and shown.