It sounds as though you’re suffering from a dead pixel. A 17-inch flat screen monitor has a native resolution of 1,280 x 1,024, which equates to 1,310,720 pixels. Each of these pixels is made up of three sub-pixels (one for red, one for blue and one for green), giving a grand total of 3,932,160. The incredible number of connections found in a TFT monitor means that it is not uncommon for one or more to fail, resulting in the dead pixel you’re experiencing.
Unfortunately, there’s nothing you can do to fix the problem. Different monitor manufacturers have different policies regarding dead pixels, so it’s worth getting in touch with them to see if you can get a replacement. Realistically, as only a single pixel is affected, you’re unlikely to get a replacement as a single fault is deemed to be acceptable. If you had problems with several pixels you may have more luck.