Minecraft 1.7 Texture Loading Issue

I updated my minecraft to 1.7.2. Once Updated i selected a world made in version 1.6.4 which loaded up but all textures where blackened out besides the sky which was the normal.
Loaded up a world on a server which was also created before 1.7 update that too had also blackened textures.
However if i create a new 1.7.2 world the textures are fine.