In the 1.8 snapshots, (or maybe even in 1.7, I cant remember now), teleportation became seamless. However, in the newest snapshots, teleportation is like in the previous versions of minecraft.
Just to compare, this is what it looks like now. Sometimes it works, but most of the time you can see when you were teleported.
14w32d: https://www.youtube.com/watch?v=BwXiSYpv9-E
14w30c: https://www.youtube.com/watch?v=ZvCL9UpKjxY
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Cannot mojang fix that in the future versions of Minecraft?

Please fix that.
Confirmed. I suspect this is because of the way the chunks load faster now.