I noticed this was a problem in snapshot 12w50b but it has returned once more. Upon hitting a mob with a spectral arrow using a bow, or giving the "Glowing" potion effect to an entity other than the player, the world goes completely black, other than the white outline of said entity. I've attached a screenshot that includes all the data provided by the F3 display. Hopefully this helps! I searched the issues and didn't notice any mention of this in recent versions.