When a sticky piston is attached redstone 1-clock and wool is on top of it, the piston arm will momentarily disappear and the wool will switch colours.
To Reproduce
Attach a piston facing upward to a redstone 1-clock.
With the clock activated, you may already notice the arm glitching out.
Place orange wool on a sticky piston to achieve what I have done in the screenshot.
This happens in 1.3.2 also as seen in the screenshot
Related issues
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A 1-clock is impossible, the clock you have made is a 2-clock. And not able to reproduce on a I7 8 processor core 4.0ghz overclock, nvidia GeForce 5400m, 4 gb ram
But here I'm talking about redstone ticks not game ticks. Although this could be my graphics card causing this.
Duplicate of MC-177

Tails, I just see a relation, but not a duplication of those issues.
I'm sorry, pictures looked too similar. 😉

No need to be sorry, but MC-177 describes the issue only when dying or saving. When one of the issues will be fixed then of course the "related" links will be followed.

Is this still a concern in the current Minecraft version? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases.
Cannot reproduce with 1.4.5.
Do you still have Optifine running like in the 1.3.2 screenshots ?
Updated. Optifine makes no difference. This still seems to happen in 1.4.5. Its is possible that this is just my graphics card.
Updated. Still happens in all current releases of Minecraft, although it is not as extreme as in 1.3.2.
No longer happens in current snapshots!
Thanks for the information.