When moving the chunk updates go to an average of 250 chunk updates, sometimes reaching 400, which dramatically decreases my fps to 30-60 from my usual 100-150. This does not just happen in one spot but everywhere. I think this is a snapshot bug because it didn't happen in previous versions. Maybe an option to limit chunk updates to your fps, if that's possible, may fix it.
Cheers, Tom.
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If its a popular server where there are many people around or there are a lot of entities (items, mobs, item frames, ender crystals etc) then that causes a lot of updates, even things like creepers underground can cause a lot of updates or exploring new terrain.

No amount of entities will cause over 200 chunk updates constantly. Everyone on this snapshot is getting this. Snapshot developer Mog has acknowledged this and fixed it.

Yea sorry that's true, but I am not having this issue so I am suggesting reasons why.
Can confirm but this a Duplicate of a well known and posted bug already