Water textures not working.

When I joined my first 1.7.2 survival world I spawned in and noticed that the water textures were broken

Normally the water should just look like, well water. No broken textures

The water became partially translucent and had many multi-coloured textures on it. I have a screenshot of it as well. It seemed to only happen when I was loading a new chunk. My setting at the time was 4 chunks.

Steps to Reproduce:
1. Open a new world
2. Load in a new chunk
3. I found that when I was in a new chunk this is when the water textures would break