Can confirm, does follow the same rules as that issue, however the lag spike happens every time rather than occasionally. Maybe with the new chunks being rendered it just can't find where the treasure is supposed to be? Will try looking for a chest in newly generated chunks, see if the bug is replicated there.
I believe both times I tried to open new ocean ruins chests, however I'm not playing on a server.
Yes, that is a hoe coming out of my waist. The arm problem seems to have been moved to the waist for spectators, and also, I shouldn't be able to carry it in the first place.
As suspected, once far enough into newly generated chunks, ocean ruins chests do not cause error. However, and this may just be a theory, but given that the change was from deep ocean to savannah I doubt world generation is strange enough to put a shipwreck on land in the middle of a savannah, up to a certain point structures that were supposed to generate did generate in the new chunks. Leads me to think that this issue could pop up in a world in a version the snapshot was designed to be compatible with.