I don't play over a network, so I couldn't say. I've lost a lot of inventory since the 1.2.2 update from this bug. Just to let you know, I play on a less than two-year-old Dell Inspirion with a i-7 processor and 16gb ram.
Yes, It happens from time to time as new areas in the distance are generated. It also happens under trees and other places where there are shadows. On my computer it may last a minute or so. Makes it hard to get started. I have noticed that when it happens indoors, lighting or removing a torch will light the rest of the area immediately.
I just reloaded Minecraft on my PC. It still has the same problem. When will I see a fix? How do I find out what the resolution is?
Also, here is the basic information on my PC:
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