When the player in spectator mode clicks on an entity (left click) the player will get its "mob camera/POV". If the entity moves over to unloaded chunks they will not load, and the player will get a glitchy effect of falling out of the world. Also it is not possible to return to normal from this without reloading the save (Shift or /gamemode won't get the player out of the void effect).
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Confirmed for me using vanilla single player, but it's easyier to get better pictures than the one provided above.

Confirm. Same for 14w05b. When in mob view ( e.g. Enderman ), the chunk rendering is not centered on the mob you are "in", only where you first entered the mob's view.

Regression in 14w30c (MC-63680)

Is this still a concern in the current Minecraft version 1.8.1 Prerelease 3 or later? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases.

Confirmed in 16w04a

i think you need to set gamerule "spectatorsGenerateChunks" in true

It's been over a year since the question was asked, please respond to the question or attach the files requests and keep the ticket updated.