When you go outside the unloaded chunks, the chunks disappear.
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Can confirm. I suspect this may be a performance trick, to boost chunk loading if you're outside loaded chunks. Doesn't make sense when chunks aren't generating though.

Is this still an issue in the current Minecraft Snapshot 15w45a or later? If so, please update the affected versions in order to best aid Mojang ensuring bugs are still valid in the latest releases/pre-releases.

It is still a thing in 15w45a