Title says it all. Looking at the tentacles while the actual Ghast is off the screen makes them invisible when they should be visible.
Easier to reproduce if looking at the Ghast dead on.
This also seems to occur with other entities, such as item frames.
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Happens with item frames too: walk up close to one, then turn slowly away, and at some point it'll vanish.
Ghasts and item frames, are these both the same type of thing? Entities or something? Or should the item frames thing be considered to be of a separate cause?

No they are both entities. Updating title and description.
For item frames see MC-1058.

Does this in 13w05a.
Duplicate of MC-1058, please use the search function to see if your bug has already been submitted. Currently over 51% of tickets are being closed as duplicate.
Can confirm. It would seem that visually the entity is made invisible too early.