The bug in MC-61091 i don't think is related - this is textures not showing, and instead blocks just show white or tint colour, flashing, i'm not getting invisible/missing blocks/chunks.
Disabling Advanced OpenGL (wasn't an option, so through options.txt) didn't change the behaviour.
Turning mipmapping off stops the flashing. With mipmapping on, using resource pack "vivid_torrential_changes" (by insomniac_lemon) it pretty much always starts flashing. Using default pack it seems to sometimes do it sometimes not. Using a pack that only adds 2 textures seems to do it a bit more.
No issue with mipmapping in previous versions - only a problem in 14w28a and 14w28b
Here's my crash report
I can confirm still affecting me, under same conditions, and the new VBO doesn't affect it.