The title and description of the texture packs are messed up, making them unreadable. They appear as blocks in the colours of the texture pack icon.
EDIT: Some people in the comments are reporting broken text everywhere
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is duplicated by 23
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This happens even with default. This issue might be related to the fact that custom fonts now load from texture packs, or that /gui/pack.png now also loads as well (it was last working in 1.2.5).
Also, I'd like to add that the FIRST time you switch packs after starting the game, the font starts loading from the items sheet. After switching packs again, it fixes itself. http://i.imgur.com/ZlsDkhe.jpg
Sorry, Tails, didn't see that you said that or added screenshots. Although, I have something else to add.
This issue can also be caused and solved by reloading textures (f3+t).
But, reloading can also cause another issue: http://i.imgur.com/vkLs1pd.jpg
Like the text issue, it seems to only happen once (although it's quite random to get it to happen).
After reloading textures again, the issue is fixed. I suppose it is related to the font issue.
Here is a video of it if anyone is curious:
http://www.youtube.com/watch?v=UT-fSVx3rGY
@John Riddle: That is MC-17673
Confirmed. I just reselected default and it messed up all GUI text ingame.