When chunks load properly, they load really fast, but a lot of the time they seem to not load for a couple of minutes (i've seen similar things on the xbox version in videos, where they're trying to get somewhere but have to stand and wait for the next chunk to load). I went in /gamemode 1 so i could fly past the edge, but the chunks took a long time to load behind me.
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Update your graphic card drivers.

I have just reproduced this, when setting the render distance to 32 chunks.
Yea, i have also done some testing.
When loading a world with 32 chunk render distance, this bug happens.
When loading a world with a 16 chunk render distance it does not happen.
If you load the world set to 16, then switch to 32, this does not happen.
If you load the world set to 32 then switch to 16, this does not happen, even if you switch back to 32 after.
So this is most likely to do with opening a world with a 32 chunk render distance.
Reply for Aidan Rooney
At 14w34d
When I load a world with 2 chunk render distance it does not happen.
If you load the world set to 2, then switch to 8, this does not happen.
If you load the world set to 2, then switch to 16+, this bug happens.
When I load a world with 16+ chunk render distance, this bug happens.
Stop having silly high distances (32) and expect things to load instantly if you have a subpar computer (you basically need a super computer and even then you are going to sit and wait 30+ seconds for the data to generate).
I have this issue even with render distance set to 2...
This is definetely not the result of a bad computer. In 15 chunks it loads instantly, and I have 300+ fps. But when I set it to more, restart the game and join the world, it doesn't load the chunks.
I am also seeing this. Looks as if multiple bugs have been filed for this behavior.