Flashy chunks when setting render distance above 12

When trying out the new render distances of minecraft i noticed that i get a lot of flashy chunks which will stay this way nomatter what you do. Increasing the distance will cause more of these chunks to appear.

I captured the issue on video: http://youtu.be/OmLZ07OyqYc

Setting it to 12 chunks seems fine, everything above starts spazzing out.