Water makes screen white with GL Error

When I go underwater, the Launcher Console is spammed with:

Client> 2013-07-03 19:23:50 [CLIENT] [SEVERE] ########## GL ERROR ##########
Client> 2013-07-03 19:23:50 [CLIENT] [SEVERE] @ Post render
Client> 2013-07-03 19:23:50 [CLIENT] [SEVERE] 1281: Invalid value

The screen is also white too, as if there is too much fog.