If I change the the render distance above 12 I get these flashing pieces of random terrain where normal terrain should be.
Video here of the bug happening http://youtu.be/LRRcuLmsmoo
A MultiMC log is included in the attachment
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MultiMC? that's not vallina minecraft (launcher) right?

This ticket is invalid as it relates to a modified or 3rd party client, server, or launcher.
Any non-standard client/server/launcher build needs to be taken up with the appropriate team, not Mojang.
Any plugin issues need to be addressed to the creator of the plugin or resource pack.
This site is for addressing issues related to the base unmodded Minecraft; Bukkit, Forge, Optifine, or any other modded system invalidates your ticket, unless it can be shown to happen in Vanilla.
Additionally, if you have problems on large-scale modded servers, please report it to their site. It's probably not a bug in Vanilla Minecraft.

I get this issue (exactly as in the video) in vanilla with any render distance above 12. About 30 seconds ago I just found out it is only when VBO is off. Wanted the higher render again, and so was playing with settings. VBO on and it works great, turn it back off and it goes crazy again. I'm currently using 14w30c.