Redstone on the ground, texturing issues. Some Textures are stretched (Stretching the pixels in one direction)
NOTE: Only at certain areas of the map (Close to spawn near 1000 40 1000 it was fine. Futhur away, it became stretched (near 9999999 4 -999999).
Issue in both 1.7.4 and latest snapshot (14w08a) Probably the ones in between too.
What coordinates were you at when you experienced this issue?