Any updates on this? Sorry... I'm not too sure how these bug reports work so if I'm asking a redundant question, I apologize. I just don't want to play v1.7.10 anymore! 🙂
BTW: That YouTube video posted by Philip Nixon is exactly what's happening to me.
P.S. ~ It sucks to be paying for Realms and not being able to use it as well... 😞
I too can confirm this issue appears to be solved in 1.8.2-pre1. I just got a few hours of play in without chunk flickering at all. Smooth game play!