True. How can I "verify" it ("awaiting verification by reporter")?
There is a new interesting finding, the redrawn areas are squares with coordinates at multiples of 512 (32×32 chunks). If there is a forest on the coordinate, the cut line is clearly visible. As you can se on the uploaded map, since 1.6.1 update, everything was previously built on "redrawn areas" is gone, but green marked areas were keeped. I can't say if the other areas were redrawn or not as there was nothing remarkable.
As far as I experienced, I can say the following about the bug. I hope it can help.
1) Any chunk within my presence (or as far as I can see) was not restarted, when I logged first time after 1.6.1 update in my old world and everything was on its place (but it may be just a coincidence)
2) First time we noted the bug was after my playmate joined the game via LAN. She appeared about 500 blocks away from me (as she disconnected there) and whole the area within her sight was redrawn. Whole village and the nearby area. Actually the closest vissible "edge" was quite far about 16 chunks away and all the structures within the area was gone (NPC village redrawn, blacksmith contained horse armor).
3) From this point, every area we have build anything before was visited by me first, for the case the bug is somehow connected with LAN playmate presence in the chunk. But it seems it is not, as I found another redrawn area myself.
4) The another redrawn area discovered was a jungle temple (it contained a loot again, including a horse armor).
5) The last area redrawn I have found was a dungeon close the spawn point, the chest contained the horse armor.
6) I have also found many dungeons plundered before and not redrawn now. But as the horse armor (any type) only has a chance to be in a chest, it is possible the game redrawns only those area, where was a chest AND now the horse armor should be in the chest.
Of course it also can be just a coincidence, but every area redrawn I have found contained a chest with a horse armor.
So how to replicate it? Well, I suppose it's quite easy, notwithstanding I can't do that. Just get the old Minecraft (version and launcher as well) and create a world. Do some changes, the bigger, the better (and more visible) and try to build close to NPC villages with blacksmith, dungeons or temples. After that update to 1.6.1 and log in to the world. Look around for your structures missing and chunks redrawn (and the chests with horse armor).
If you say so... I don't see any similarities with the issue.